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PROFITS AT RUPERT Murdoch’s News Corporation more than halved at the start of the year as his news business continued to act as a drag on the company.
The media conglomerate, which publishes newspapers including the Sun, the Times and the Wall Street Journal, said its ad revenues were down 12% after “weakness in the print advertising market”.
Its income from circulation and subscriptions was also down over the three months when compared to the same period in 2014.
In Ireland, the circulation for News Corp’s Irish Sun has dropped almost 7% from an average 63,535 daily copies for the second half of 2013 to 59,119 from July to December last year.
Circulation figures for the Sunday Times have fallen by a similar share from 92,643 to 86,059 copies over the year.
Phone hacking fallout
News Corp also continues to feel the effects of the News of the World phone hacking scandal, which cost the company $42 million in fees and charges in the nine months to the end of March.
Those “UK newspaper matters” had already set it back $470 million in total expenses, including some $36 million paid out in civil settlements, between July 2010 and June last year.
The company said its net profits were down 52% to $23 million for the quarter after the company recorded further losses from its struggling digital education arm.
The overall drop in profits came despite better performance from its book publishing business, which includes HarperCollins and Harlequin, because of ”strong backlist sales … resulting from the continued popularity of American Sniper”.
The Chris Kyle autobiography was released as a film starring Bradley Cooper earlier this year.
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I hope the horrible piece of crap that is the sun crashes and burns.
I wouldn’t even burn it as it’s damaging enough to the planet
It all went down hill when he got rid of page 3
If you buy ‘the Sun’ you probably have an IQ in single digits.
@alanb it was a bit of a boob alright.
@ Alan..I agree..went tits up you might say…
Bloody brilliant news. Despicable organisation.
I cannot stand Rupert Murdoch, a man with no morals or ethics. His newspapers are toilet paper
The Sunday Times is one of the finest papers on these Islands.
Sympathy levels for him and his company are at zero
DELIGHTED
The original make up or news creation conglomerate. No point in ever reporting facts. Too boring!
Hope it’s the start of his ruin, would love to see him destitute and homeless. His newspapers have less integrity than used toilet paper. His TV channels keep the masses dumb, ignorant and scared. A megalomaniac if ever there was one.
Where are we gonna get our daily fix of horse manure now?
Couldn’t happen to a nicer fellow, eh? The desperate “Red Ed” tactics have failed.
Absolutely brilliant news. This guy is a peddler of dumbness.
Who knew Page 3 had such a loyal following.
Here’s hoping D O’Brien goes the same way.
DOB a man of the same integrity and honour as the delightful Digger. Hopeful Tony can “do” him a turn.
Tabloid journalism:
“Journalism that presents news usually through sensationalism, emotionalism and over simplification of complex issues catering to the lowest common denominator many times even lying”.
By that definition, the Irish independent can also be considered a tabloid.
News Corp: $23M profit in the quarter. “Has hit the wall hard”
Sunday Business Post: €200k loss. “Things are looking up”
???
He must be 300 years old the basta.d.
Delighted, if I wanted to be fed propaganda, I’d just read FG/Labour press releases.
http://www.theguardian.com/media/2015/may/06/sun-ed-miliband-neil-kinnock-murdoch-labour
Just as well his television empire is booming so.
No surprise there – newpapers are dying media – he makes all his money from TV & film.
Papers that just report the news are redundant but they still have a huge part to play in terms of opinion pieces. I don’t buy papers from 1 end of the week to the next as I can check online for the news anytime, but I always buy a Sunday paper as it offers plenty of analysis and reviews etc same with most of my friends
You, me & everyone else is doing exactly this – hence their decline & losses.
By 2000 most newspaper publications had managed to make it on to the Internet but very few had managed to make them profitable and that is still the case today.
That’s good news. Enough of his misleading propaganda media May his empire fall !
Face for radio
News Corp. makes Gobbles sound reasonable and rational.
have your say