Is Alesia Holdings the future of News, or just another tax re-jiggle?
Twelve years later, is Alesia making a comeback after’s prolonged stay in Australia last year? It’s too early to say. News Corp’s existing strategy draws more on images of theCOVID-19 hit media earnings hard everywhere. But while its columnists thunder as imperiously as ever, the improved reporting after News Corp’s restructure reveals just how precarious its future appears.
The 61.6 per cent stake in REA Group held in News Australia Holdings is the only local News business arm that actually made a solid profit in 2021 – and it isn’t run by News. However, REA’s share price is down 40 per cent since November, which has wiped $5.8 billion from the value of News’ shareholding. And that’s the good news.
News Corp’s 65 per cent stake of Foxtel, held in Pay-TV Financing, was also rolled into Alesia. In fiscal 2020, it reported a $55 million pre-tax loss, once you omit impairments and restructuring costs. In 2021, the loss jumped to $112 million.News Corp Australia, which holds Murdoch’s newspapers, reported a $15.1 million pre-tax loss in 2020, ignoring impairment and restructuring charges. In 2021, the loss was $40.9 million ., once touted as future head of News Australia, is doing OK.
In fiscal 2015, the year before Brooks joined as head of News UK, the three directors of News Group Newspapers were paid £1.74 million . Last year, Brooks and the two other directors trousered £9.3 million. The highest-paid director took a £1.17 million pay rise that took their total to £3.6 million., reported a £51 million loss.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Follow the 9News live breaking news blog throughout the dayThe AFP says it has identified as many as 5,000 members of the mafia responsible for smuggling huge drug shipments and money laundering. DamoNews has the details. 9News MORE:
Read more »
Australia live news update: energy ministers meet for talks; Murugappan family on the way homeAustralia live news update: energy ministers hold emergency talks on supply issues and price hikes
Read more »
Follow the 9News live breaking news blog throughout the dayHEADING HOME: After years in detention limbo, the Murugappan family are heading back to Biloela in Central Queensland. Speaking to the media from Perth airport the family gave thanks before commencing their journey to their adopted hometown. 9News MORE:
Read more »
US networks to air January 6 hearings – but Fox News sticks with Tucker CarlsonPublic hearings by House committee investigating Capitol attack will be broadcast live on all main TV networks except Fox News
Read more »
Australia news LIVE: Gallagher says ‘Households under enormous pressure’ after interest rate rise; Dreyfus hopes anti-corruption commission will start mid 2023The government’s national anti-corruption commission could be operating by the middle of next year, Attorney-General Mark Dreyfus said this morning. That story and more in today's live blog. auspol
Read more »
Australia news LIVE: RBA lifts interest rate to 0.85 per cent; business calls for visa speed upVictoria has recorded 9519 new cases of COVID-19 and 25 deaths. There are currently 522 people with COVID-19 in hospital, including 29 in ICU and eight on a ventilator. For the latest news follow our live blog
Read more »