Weeks after Fox merger scrapped investors say market value languishing because of underperforming businesses in portfolio
, a cash cow that makes more than $3bn in profits annually, had been concerned about being used as a “financial umbrella” to prop up weaker publishing assets that newspaper-loving Rupert is loth to cull.
And yet some News Corp investors argue that the business could be worth as much as $23bn, and that its market value is languishing at $12bn because of the drag of underperforming businesses in the portfolio. Profits in the company’s news media business – the New York Post in the US and newspaper operations in Australia and the UK, which also includes radio operations such as TalkSport and the Piers Morgan-led TalkTV – slumped 47% year-on-year in the final three months of the year.
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.
News Corp puts squeeze on staff spendingNews Corp Australia has kicked off a $20 million cost-cutting drive by putting the squeeze on expenses.
Read more »
Lachlan Murdoch still thinks Fox-News Corp merger makes senseIn his first comments since he and father Rupert pulled a proposed $US28 billion Fox Corp-News Corp merger, Lachlan Murdoch says the plan was sound.
Read more »
News Corp flags job cuts as revenue, earnings declineAbout 1250 positions are expected to be impacted globally as part of cost-cutting efforts at Rupert Murdoch’s media giant.
Read more »
News Corp job cuts: Rupert Murdoch’s Australian newspapers to axe one in 20 staffAnnouncement comes after Rupert Murdoch’s global company posted 47% decline in quarterly earnings in news media
Read more »
One in 20 jobs to go at News Corp as earnings plunge 30pcThe media conglomerate is slashing its Australian workforce by 400 - 5 per cent - after its quarterly results fell well short of expectations.
Read more »