News Corp to Stop Printing More than 100 Australian Newspapers

0
92


Rupert Murdoch’s flagship Australian media group News Corp announced on Thursday that it would stop printing more than 100 regional and local newspapers, blaming the collapse of advertising compounded by the coronavirus pandemic.

The move comes after News Corp. announced on April 1 that it temporarily suspended the printing of sixty community newspapers and is expected to cost hundreds of jobs.

The company said most of its regional and local newspapers will go digital only by June 29, with 76 articles online and 35 more headlines closed.

The move echoes a global trend in the troubled media industry, as declining readership and the continued growth of Google and Facebook eat into media advertising revenues.

News Corp Australia executive chairman Michael Miller said the permanent changes were brought about by the coronavirus pandemic, which had an impact on the sustainability of the local edition.

“Print advertising expenses, which contribute to the majority of our income, have accelerated its decline,” he said in a statement.

“Therefore, to respond to these changing trends, we are reshaping News Corp Australia to focus on consumer and business destinations. “

The company said the changes would “unfortunately result in job losses”, but more than 375 journalists would continue to cover community and regional news.

The Sydney Morning Herald reported that there were previously around 1,200 people employed in the Australian regional and community division of News Corp.

Articles in almost all states and territories will be affected by the decision, including dozens in Queensland, New South Wales and Victoria.

The announcement follows a series of media closings, including the national cable AAP, which is expected to close in a few weeks, unless an offer of last resort can save it.

LEAVE A REPLY

Please enter your comment!
Please enter your name here