(Image: AAP/Joel Carrett)

News Corp is retreating from the world: it’s selling down, closing up, losing its clout. The COVID-19 shock is hurrying it along.

Last week, while Australian media was chattering about the “suspension” of printing their near-monopoly suburban newspapers, Foxtel couldn’t handle the influx of calls from subscribers wanting to cancel. 

Meanwhile, in its Sixth Ave New York HQ, the company continued its walk away from print with the announced sale of its advertising coupon inserts business, News America Marketing, shedding what just last year was 10% of its revenues.