Rupert Murdoch’s British newspaper and publishing division suffered an operating loss of £3.5m in the year up to June 2014 compared to a £51m profit the year before. One stand-out feature was the plunge in the profitability of the Sun, where operating profits were down to £35.6m from £62.1m in 2013. Similarly, earlier this month, News UK made much of Times Newspapers having returned an operating profit of £1.7m, but the accounts reveal that it suffered a pre-tax loss.
- The Sun’s revenues fell 5.5% to £489m
- 225,000 subscribers had signed up for online packages, which it regarded as a success, but it did not compensate for the continuing decline in print revenues
- The company incurred further legal costs of £17.1m due to the activities that resulted from its post-hacking decision to set up the management and standards committee (MSC)
In my opinion, I believe it is interesting how a news corporation can have such a drastic turn over in the period of on year. It however shows that the company itself has encountered in activities that resulted in legal costs and also other newspapers may be more popular.
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