For The Times, these aren't great days

Pre-tax losses for The Times and the Sunday Times widened to £87.7m for the year to 28 June 2009, from £50.2m in the previous 12 months.
Statutory accounts filed to Companies House have also revealed that at News Group Newspapers, the News International subsidiary that publishes the Sun and
the News of the World, profits fell to £40.3m, down from £44.7m, during the 12-month period.
Turnover at Times Newspapers, the News International subsidiary that publishes the Times and Sunday Times, was down 13.4% year on year to £385.5m. News Group Newspapers' turnover was down 1.4% year on year to £617.9m.
The company blamed the widening losses at Times Newspapers on declining advertising revenues and said its directors expected the general level of activity to continue "for the foreseeable future".
Companies House filings also revealed that holding company NewsCorp Investments paid one of its directors, thought to be James Murdoch, £1.3m for the year ending ending 28 June 2009. This payment was down from £1.5m in 2008, but the company said in its statement: "Certain directors are also remunerated by the parent company."
Murdoch is chairman and chief executive News Corporation Europe and Asia, overseeing all of the group's business interests outside of the US and Australia. This includes News International, which publishes the Sun, Sunday Times, the Times and News of the World.
NewsCorp Investments, which includes News International and book publisher Harper Collins, had an overall turnover of £1.3bn in the year to 28 June 2009, down from £1.4bn in 2008. But operating profit fell from £107.3m in 2008 to £27.3m, before exceptional items of £31.7m were removed, leading to a pre-tax loss of £4.6m, before interest and investment income.
NewsCorp Investments had 4,725 employees, compared with 5,303 in 2008. News International staff numbered 3,260. The company donated £600,000 to charity, compared with £900,000 in 2008.

No comments:

Post a Comment