Goldman Sachs, one the two bankers handling the forthcoming News Corporation split, is forecasting a sharp fall in newspaper operating earnings in the 2013 financial year.
News Corp shares rose another 2% on Wall Street overnight to end the day at $US22.50, a new five-year high as investors positioned themselves for the split.
The market is sceptical that News Limited will be trumped in its attempts top buy ConsMedia and return to control of all of Fox Sports and half of Foxtel that it had before the Super League settlement 15 years ago.
In today's Media Briefs: Melbourne viewers dip to zero for Ten’s Breakfast debut ... Sun on Sunday: never has a newspaper been launched in such adversity ... Charlotte Church settles over phone hacking and more ...
As Perth journos continue to snooze over the dregs of the silly season, News Limited has restarted its assault on the city's "gentleman's agreement" that neatly divides its daily newspaper market between Kerry Stokes and Rupert Murdoch.
Without an ounce of irony, The Australian reported this morning on the shake-up at Consolidated Media Holdings.