Rupert Murdoch’s News Corporation will slash $20 million in costs from the business that owns The Australian and The Daily Telegraph in a bid to make its newsrooms financially viable
Rupert Murdoch’s News Corporation will slash $20 million in costs from the business that ownsover the next two years, in a bid to make the newsrooms financially viable over the long term.
The project, which staff are referring to as ‘Audience 25’, is the latest move by the Murdoch-controlled media company to find efficiencies against the backdrop of rising inflation and broader global economic pressures. Media sources, who spoke on the condition of anonymity because the project is confidential, said senior executives are in the process of identifying where to reduce costs.
News Corp Australia owns a range of local assets, including The Australian, The Herald Sun and The Daily Telegraph.The sources said the program was being led by national community masthead network editor, John McGourty, and Rowan Hunnam, head of digital, national regional and community network. News Corp declined to comment.as well as cable TV operator Foxtel and streaming services Kayo and Binge.
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