Murdoch flags charges for online news [View All]

[Swagman]

Source: Sydney Morning Herald

Murdoch flags charges for online newsMiriam Steffens
May 7, 2009 - 12:03PM
Rupert Murdoch has flagged an aggressive push to start charging readers for News Corp's newspapers online over the next year, seeking to put an end to the company's profit erosion as advertising dollars shift to the internet.

"There is no doubt that the traditional newspaper model has to change, even though the present situation I think has been greatly exaggerated by the current recession,'' Mr Murdoch told analysts on a conference call this morning, announcing a 97% earnings slump at News Corp's newspapers and information services for the third quarter.

snip

British reports revealed this week that News Corp's Times and Sunday Times combined lost almost 1 million pounds a week in the year to June 2008, even before the downturn started to bite.

Read more: http://business.smh.com.au/business/murdoch-flags-charges-for-online-news-20090507-aw0y.html

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"....Sunday Times combined lost almost 1 million pounds a week" "......a 97% earnings slump "

Murdoch : " situation I think has been greatly exaggerated " ?????