Earnings tumble for News Corp’s news media division

Nathan Jolly

August 11, 2023 10:17

News Corp saw earnings tumble by 28% in its news media division, as it battled lower revenues, inflationary pressures on newsprint costs, and a number of digital investments – including TalkTV.

Revenues dropped by US$157 million (A$241m) for fiscal year 2023, down 6%. Within the segment, revenues at News Corp Australia dropped by 8%, slightly worst than News Corp UK’s 7% drop.

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Nathan Jolly

Nathan Jolly is the Features Editor at Mumbrella. He joined the team in July, 2023.

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1 COMMENTS

Former Planner 14 Aug 23

This pleases me immensely and I don’t buy their explanation around ‘foreign currency fluctuations’ – brands dont want to be associated with right wing media anymore.

Now thats a good news story!

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