June 2012 was a tumultuous month in the Australian media industry. And thanks to secret documents obtained by Crikey, we now know just how tumultuous it was for Rupert Murdoch’s News Corp.
In a move slammed by journalists and hailed by the company’s investors, in June 2012 Fairfax’s CEO rolled up his sleeves and announced a bold cost-cutting plan to cut 1900 staff. Change was also afoot at News Corp. New CEO Kim Williams — a man not from the world of newspapers, who would be ousted by August 2013 — unveiled new cost-cutting plans centred on a “one city, one newsroom” strategy. But unlike his counterpart at Fairfax, Williams didn’t say how many of his company’s staff would be cut as a result.