(Reuters) - Media conglomerate News Corp ( NWSA ) on Wednesday missed Wall Street estimates for third-quarter revenue, weighed down by a sluggish advertising market and lower physical book sales at its book publishing business.

Inflation and higher interest rates have impacted News Corp's ( NWSA ) businesses and dented its advertising sales.

The company's News Media segment, which includes the New York Post, The Times, the Sunday Times, among others, came under pressure as marketers kept a tight leash on ad budgets in an uncertain economy.

News Corp ( NWSA ), a part of media baron Rupert Murdoch's empire, said it has been reviewing the company's structure and that the "work is intense and ongoing."

Shares of the New York-based company fell nearly 3% in trading after the bell.

Revenue fell 1% to $2.42 billion in the quarter ended March 31, below estimates of $2.46 billion, according to Visible Alpha.

Revenue at the Dow Jones business grew 3% to $544 million, while revenue at its Digital Real Estate Services unit rose 7%, driven by strong performance at REA Group, which operates residential and commercial property websites in Australia.

The company's revenue at its book publishing segment fell 2% to $506 million.

Revenue from its subscription video services unit, which includes the Foxtel Group and Australian News Channel (ANC), decreased 5% to $455 million.

Earlier on Wednesday, News Corp's ( NWSA ) peers Fox Corp and New York Times beat Wall Street estimates for quarterly profit and revenue.