News Corp's reaction to Crikey's exclusive revelations about the dire state of its Australian newspaper empire in 2012-13 was two-pronged: one, to say that the accounts were old and everything was fine now; and two, to blame the poor performance on former CEO Kim Williams. What News' attack dog The Australian has yet to do, however, is to give Williams his rightful due for what he did for the Murdoch mob at Foxtel, turning it into a cash cow that was regularly milked by News and Telstra to the tune of $1 billion (or more) in the past five years. That was enough to get him promoted to run News Corp Australia, where his attempts to reshape the company and give it more time to adapt to the digital onslaught from the net were frustrated by the dinosaurs who remain in control to this day.
Kim Williams’ lucrative gift to News keeping the empire afloat
News Corp's relentless attacks on former CEO Kim Williams belie a fundamental truth: Williams' management of Foxtel was a financial boon for the company.