Quote:
Originally Posted by c.t.ner
Ture, but it'll be interesting to see what the fallout does to his other British paper properties.
The Sun
News of the World (closed after a scandal on July 10th 2011)
The Times
Sunday Times
(BTW, his list of properties under the News Corp umbrella is massive and or frightening, depending on your view) |
There is definitely a concentration of information in his hands. Shutting down what was basically the Sunday version of the Sun, to be replaced by the "Sunday Sun" doesn't seem like a big change to me, more of a damage control move. Still too bad for the ~200 people out of work. Doubt this will affect the Times properties much, they're a pretty different market segment, and have managed to stay above the fray.
The big news is if it screws up the BskyB aquisition. That's been one of his main cash engines, and he needs to own 100% to have access to the cash in the parent company as newspaper profits begin to decline.