Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

NEWS CORPORATION

(NWSA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

News Corp to cut jobs in UK newspaper, radio business - memo

06/10/2020 | 09:15pm EDT
FILE PHOTO: Rebekah Brooks, CEO of News UK, attends The Times CEO summit in London

By Kanishka Singh

Rupert Murdoch's News Corp will need to cut jobs in its British newspaper and radio operations as part of a business review aimed at reducing costs, News UK Chief Executive Rebekah Brooks said in a letter to staff on Wednesday.

"In the coming months, we will need to streamline the business and take some tough decisions, saying goodbye to some valued and talented colleagues," Brooks said in the letter seen by Reuters.

The letter did not mention the scale or number of job losses that could occur after the step.

The review has been triggered by the impact of the coronavirus outbreak and its resulting lockdown, according to a News UK spokeswoman.

"To secure the future of our brands, in the coming months we will need to streamline the business and take some tough decisions," the spokeswoman told Reuters in an emailed statement.

News UK includes the Times of London, The Sunday Times and The Sun newspapers, along with Virgin Radio, talkSPORT and talkRADIO.

The development comes as coronavirus-related shutdowns gut advertising revenues and accelerate a downturn in the media sector in many parts of the world.

The outbreak has accelerated the decline of print advertising and sales. The pressure on traditional media in some parts of the world has been evident for years as advertisers chase the audience reach of internet giants like Facebook Inc and Alphabet Inc's Google.

The Australian arm of News Corp said late last month it will stop printing more than 100 regional newspapers, adding that the closures would lead to job cuts.

(Reporting by Kanishka Singh in Bengaluru; Editing by Sam Holmes)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.35% 2786.17 Delayed Quote.58.97%
FACEBOOK INC -3.92% 315.81 Delayed Quote.15.61%
FOX CORPORATION -0.57% 41.59 Delayed Quote.42.82%
NEWS CORPORATION -1.28% 23.85 Delayed Quote.32.72%
All news about NEWS CORPORATION
10/26UK Watchdog May Accept S&P Global, IHS Markit Undertakings to Clear Deal
DJ
10/25News Corporation Receives Proposal from Kenneth Steiner
CI
10/24Australian publisher calls government on Facebook, regulator concerned
RE
10/22NEWS : Data group S&P gains EU nod for $44 billion IHS takeover
RE
10/22NEWS : EU regulators clear with conditions S&P's $44 bln IHS deal
RE
10/19HARPERCOLLINS PUBLISHERS : Commits to Becoming Carbon Neutral in Direct Emissions In 2022
BU
10/19NEWS : IHS Markit, S&P to address UK competition concerns over $44 billion merger
RE
10/19S&P GLOBAL : IHS Markit Propose Sale of IHS Base Chemicals Business to Address UK Competit..
MT
10/19UK Watchdog Says S&P Global, IHS Markit Deal May Harm Competition -- Update
DJ
10/12Exclusive-S&P's $44 billion IHS deal set to win EU antitrust approval, sources say
RE
More news
Analyst Recommendations on NEWS CORPORATION
More recommendations
Financials (USD)
Sales 2022 9 923 M - -
Net income 2022 367 M - -
Net cash 2022 783 M - -
P/E ratio 2022 36,5x
Yield 2022 0,84%
Capitalization 14 165 M 14 165 M -
EV / Sales 2022 1,35x
EV / Sales 2023 1,24x
Nbr of Employees 24 000
Free-Float 73,0%
Chart NEWS CORPORATION
Duration : Period :
News Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NEWS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Last Close Price 23,85 $
Average target price 30,09 $
Spread / Average Target 26,2%
EPS Revisions
Managers and Directors
Robert James Thomson Chief Executive Officer & Director
Susan Lee Panuccio Chief Financial Officer
Lachlan Keith Murdoch Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
David Kline Chief Technology Officer & Executive VP
Sector and Competitors
1st jan.Capi. (M$)
NEWS CORPORATION32.72%14 165
THE NEW YORK TIMES COMPANY5.76%9 233
REACH PLC133.64%1 437
REWORLD MEDIA94.95%370
NORTH MEDIA A/S50.38%339
D. B. CORP LIMITED24.86%239