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Feb 7, 2013

Rupert’s quandry: News Corp results show publishing’s dead

News Corp's quarterly results show exactly why the company wants to hive off publishing -- it's not making serious money. That's a pyrric result for Rupert Murdoch, who's fighting hard to keep papers alive.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The latest quarterly results from News Corporation contain compelling evidence about why the company is hiving off its publishing businesses into a separate company and going it alone with the rapidly growing content and distribution operations: publishing is a millstone around the revenue and earnings lines of News’ financial account.

7 comments

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7 thoughts on “Rupert’s quandry: News Corp results show publishing’s dead

  1. Peter

    Quandry? ReallY? No editing at Crikey?

  2. Xoanon

    Also, “pyrric” should be pyrrhic. A quick spell-check would’ve picked both of those up.

  3. Hamis Hill

    Abbott’s ascendancy,care of a putrid and unprofitable media campaign, looks like a loser for the Big Rupe.
    Remember 2010 and the, arguably, unlosable election?
    Well, even Rupert can’t turn a loser into a winner and he’s lost a lot of money in the process.
    Has Abbott been worth it; the most expensive Arshe Loch in the Southern Hemisphere?
    And with Abbott the taxpayers aren’t getting their money’s worth now; a rolled gold, guaranteed dud as PM?

  4. Electric Lardyland

    For a long while, I’ve been under the impression that Murdoch’s newspapers haven’t been profitable in the traditional sense. The traditional sense being the cover price and the advertising revenue, exceeding the production costs. The sense in which they have been profitable, is in the sense that a gun or knife is profitable to a bandit. That is, News has been able to use the coercive influence of its newspapers, to extract sweetheart deals from governments, in more profitable areas, like, pay TV, internet services, gambling, etc. And also in the vanity project area, of just telling governments how to run policy.
    It will be interesting to see how many, on the surface, unprofitable newspapers are kept on life support.

  5. Isabel Della

    Electric Ladybird

    “It will be interesting to see how many, on the surface, unprofitable newspapers are kept on life support.”

    … so Murdoch can continue to live out his fantasy of being the most powerful person in the world…

  6. Mike Flanagan

    Reports the Murdoch’s arch enemy Malone is trying to buy Virgin Media for a cool $20b would cause him to be apoplectic.

  7. Richard Koser

    Hamis, I disagree with your assessment (I think Rupert’s counting on pay back this time around) but I agree with your German.

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