Revenue at News Corp fell 2% to $8.12bn in 2018, a loss of $817m, which the company said was due to a drop in the value of its newspapers in the UK and Australia. The media company, owned by Rupert Murdoch, said it had reduced the values of The Australian, The Daily Telegraph and The Herald Sun titles by 40%, while its Australian media arm plans to continue a $40m cost-cutting programme into the 2017 financial year. In contrast, revenues from News Corp's digital news and information arm rose 3%.
Revenue at News Corp fell 2% to $8.12bn in the 2017 financial year, a loss of $817m, which the company said was due to a drop in the value of its newspapers in the UK and Australia. The media company, owned by Rupert Murdoch, said it had reduced the values of The Australian, The Daily Telegraph and The Herald Sun titles by 40%, while its Australian media arm plans to continue a $40m cost-cutting programme into 2018. In contrast, revenues from News Corp's digital news and information arm rose 3%.