News Corp newspaper revenue falls 6% as ads and subscribers go online
Newspaper revenue in the UK, the US and Australia is down despite a rise in the company’s overall revenue thanks to book publishing and real estate divisions
Declining sales, advertising and subscriptions hurt revenues at Rupert Murdoch’s newspaper business in the final quarter of last year, News Corp has reported.
Revenue at the company’s news and information unit, which publishes the media tycoon’s newspapers in the UK, US and Australia, fell 6% to $1.52bn.
Total advertising revenues fell 9%, with the UK market especially hard hit.
“The advertising climate in the UK remains very difficult, but we are renewing our efforts on digital ad sales and assiduously cultivating core clients,” said the chief executive Robert Thomson.
Another story about newspapers losing money again highlights the fact that the newspaper will continue to decline and lose money as long as it continues to focus and produce broadsheets. The fact that to gain revenue the chief executive said he will try to gain digital ad sales highlights that even newspaper chiefs know that the future and money is online.
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