According to The Guardian’s Amanda Meade, job cuts at News Corp took place this week. Among the staff made redundant was The Daily Telegraph crime reporter Janet Fyfe-Yeomans. MEAA says News has suggested 30 to 40 editorial positions would be targeted.
(News Corp job cuts is the third last item)
Revenues in the quarter decreased $17 million, or 3%, as compared to the prior year, driven by a $42 million, or 7%, negative impact from foreign currency fluctuations, partially offset by higher circulation and subscription and advertising revenues in constant currency.
Within the segment, revenues at News Corp Australia and News UK decreased 5% and 4%, respectively, as both were impacted by negative foreign currency fluctuations. On a constant currency basis, revenues at News Corp Australia and News UK increased 1% and 6%, respectively. Adjusted revenues for the segment increased 4% compared to the prior year.
Circulation and subscription revenues decreased $11 million, or 4%, compared to the prior year, primarily due to a $21 million, or 8%, negative impact from foreign currency fluctuations and lower print volume. The decline was partially offset by cover price increases and digital subscriber growth.
Digital subscribers and users across key properties within the News Media segment:
• Closing digital subscribers at News Corp Australia as of March 31, 2023 were 1,043,000 (937,000 for news mastheads), compared to 946,000 (876,000 for news mastheads) in the prior year (Source: Internal data)
A shame that News Ltd papers don’t seem to be printing comics anymore?
At least not in the Daily Telegraph, I suspect this may have been part of that refresh that occurred in early April.
News Corp papers stopped publishing comics in September last year. It was discussed in this thread.