Rupert Murdoch’s News Corporation wrote down the value of its former high-flying flight The· Sun Zero titles, emphasizing the dramatic decline of the British newspaper industry.
The fusion of tabloid gossip and right-wing political coverage has been Britain’s most widely read treatise for over 40 years before becoming a rival. Daily mail Claimed the title last year.
The editors are struggling to open up a place for paper in the new world of online news, trying before abandoning the paywall model and damaging trying to break away from the phone hacking scandal that exploded 10 years ago. I did. SunCredibility as an activist for social purposes.
News Corp. said it posted an impairment loss of £ 84m ($ 154m) in 2020 due to Sun’s cash flow forecast, according to an account released Friday. Book value of publishing rights and titles as of June 28, 2019 fell from £ 112m in 2019 to zero.
The company also raised the amount reserved for the legal provisions of telephone hacking claims from £ 27m in 2019 to £ 52m.
The newspaper said it has resolved or is in the process of resolving most claims related to hacking scandals and improper payments to civil servants. It does not provide for unresolved claims that have not yet been filed.
“Given the information currently available to the company, it is impossible to estimate liability for such additional claims,” he said.
The Sun of Rupert Murdoch, Britain’s largest newspaper for decades, is now worth zero
Source link The Sun of Rupert Murdoch, Britain’s largest newspaper for decades, is now worth zero