Look at this breakout by division, taken from News's most recent public filing click to enlarge :. Publishing -- read that as newspapers -- has accounted for about 26 percent of News' revenue over the last couple of years, as you can see from these results from the nine-month that ended in March. News Corp's fiscal year runs July to June. But last year, except for the litigation settlement, newspapers created about 20 percent of the company's operating profit. This year?
Just under 17 percent. Newspapers are already faltering and in the long run the figures will only trend down, as the industry continues to weaken.
That's why BSkyB is so attractive. Compare that to News' performance. With 12 percent of revenue turning into free cash, versus 7 percent for News, BSkyB is a money printing machine. And that's handy for any business with major interests in declining industries.
What does this mean? Why should I care? Originally posted as part of the Finimize daily email. Read next. Time Inc. Everything you need to know in just 3 minutes a day. Matt shared this article via our daily newsletter. Sign up here. Sign up to Finimize Email. First name. The media mogul Rupert Murdoch has said he wants Sky News to become more like his rightwing US network Fox News, and revealed the extent of his editorial grip on his British newspapers to a House of Lords committee.
The communications committee, chaired by Lord Fowler, toured the US in September to meet media executives, regulators and consumer groups as part of an inquiry into media ownership. Their conversations were made public yesterday in detailed minutes. Murdoch said he wanted Sky News , which has confounded cynics by maturing into a well-funded and award-winning hour news operation, to be more like Fox News to make it "a proper alternative to the BBC".
Due to the lack of impartiality laws in the US, Fox News became successful as a rightwing counterpoint to the perceived leftwing leanings of its rivals.
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