News Corp's publishing focus on losses at Times and Sunday Times
The Times and Sunday Times, running at an estimated £1m a week, it is a priority for News Corp – efforts to tighten integration between the two titles is likely to require a loosening of the undertakings/ pledge given by Rupert Murdoch when he bought the newspapers.
The operating losses = have been tolerated by murdoch as part of the News Corp
Because the because the publishing company is smaller, (excluding News Corp's more profitable film and TV businesses) , it means individual newspapers will be in greater focus with investors
Some say that it will be necessary to reduce the losses, but slowly as the 1981 undertakings signed by Murdoch for the approval for the purchase of Times Newspapers made him " preserve the separate identities of the Times and the Sunday Times".
Problems such as the phone-hacking scandal and arrests of Sun journalists over alleged corrupt payments to public officials –
therefore the company is sceptical to whether it would be able to win political approval to see the undertakings of the newspapers to allow widespread seven-day working.
The economic circumstances for newspapers have changed. Two smaller competitors are also loss-making. : Guardian News & Media,
It lost £44.2m last year, and trying to cut 68 editorial jobs – having already accepted just over 30 voluntary redundancies, and told staff that compulsory redundancies cannot be ruled out.
The Independent lost £18m in its last full financial year and its owner has said he is looking for minority investor.
Murdoch has to have majority of 6 Independent diectors to agree with the propsals :
Any proposals that touched on the undertakings of the Times and Sunday Times would have to be a matter for the six "independent national directors" such as a former editor of the Economist, and the ex-London Evening Standard editor.
These Independent directors ensure that "each of the two editors would be free to make his own decision on matters of opinion and news and each would be free to disagree with the other and with any other newspaper in which Mr Murdoch may have an interest".
A majority of the six have to agree to the appointment or dismissal of an editor of either newspaper.
http://www.guardian.co.uk/media/2012/dec/07/news-corp-slashing-losses-times
The Times and Sunday Times, running at an estimated £1m a week, it is a priority for News Corp – efforts to tighten integration between the two titles is likely to require a loosening of the undertakings/ pledge given by Rupert Murdoch when he bought the newspapers.
The operating losses = have been tolerated by murdoch as part of the News Corp
Because the because the publishing company is smaller, (excluding News Corp's more profitable film and TV businesses) , it means individual newspapers will be in greater focus with investors
Some say that it will be necessary to reduce the losses, but slowly as the 1981 undertakings signed by Murdoch for the approval for the purchase of Times Newspapers made him " preserve the separate identities of the Times and the Sunday Times".
Problems such as the phone-hacking scandal and arrests of Sun journalists over alleged corrupt payments to public officials –
therefore the company is sceptical to whether it would be able to win political approval to see the undertakings of the newspapers to allow widespread seven-day working.
The economic circumstances for newspapers have changed. Two smaller competitors are also loss-making. : Guardian News & Media,
It lost £44.2m last year, and trying to cut 68 editorial jobs – having already accepted just over 30 voluntary redundancies, and told staff that compulsory redundancies cannot be ruled out.
The Independent lost £18m in its last full financial year and its owner has said he is looking for minority investor.
Murdoch has to have majority of 6 Independent diectors to agree with the propsals :
Any proposals that touched on the undertakings of the Times and Sunday Times would have to be a matter for the six "independent national directors" such as a former editor of the Economist, and the ex-London Evening Standard editor.
These Independent directors ensure that "each of the two editors would be free to make his own decision on matters of opinion and news and each would be free to disagree with the other and with any other newspaper in which Mr Murdoch may have an interest".
A majority of the six have to agree to the appointment or dismissal of an editor of either newspaper.
http://www.guardian.co.uk/media/2012/dec/07/news-corp-slashing-losses-times
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