News Corp to cut 1,250 jobs after missing second-quarter estimates

Reduced ad spends due to rising inflation and higher interest rates have battered Rupert Murdoch’s media conglomerateMedia conglomerate News Corp said on Thursday that it would cut 1,250 jobs after it missed estimates for second-quarter earnings due to weakness in its news and digital real estate businesses.Rising inflation and higher interest rates are forcing companies to curb their ad and marketing spend, denting one of the major sources of revenue for companies such as News Corp, which has major publishing platforms including the Wall Street Journal and New York Post in the US, the Sun and the Times in the UK, and the Australian. Continue reading... Continue reading at 'The Guardian'

[ The Guardian | 2023-02-09 22:30:39 UTC ]

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‘The real Rupert’: News Corp global chief says idea that Murdoch influences elections is a ‘myth’

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[ The Guardian | 2021-10-22 04:46:20 UTC ]
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[ The Guardian | 2021-10-15 01:46:45 UTC ]
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Murdoch empire’s global chief Robert Thomson to front questions at Australian Senate inquiry

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[ The Guardian | 2021-10-14 04:56:21 UTC ]
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News Corp’s Andrew Bolt says his company’s climate campaign is ‘rubbish’

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[ The Guardian | 2021-10-12 16:30:58 UTC ]
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Flash in the pan or money-spinner? Murdoch pins hopes on news streaming service | The Weekly Beast

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[ The Guardian | 2021-09-24 03:27:25 UTC ]
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Sky News Australia rolls out the red carpet for Piers Morgan, who vows to take on ‘woke world’

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[ The Guardian | 2021-09-10 20:00:05 UTC ]
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[ The Guardian | 2021-09-10 02:44:13 UTC ]
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