Rupert Murdoch's News Corp has
decided to end publication of dozens of newspapers in Australia, and print
edition of over 100 other regional and community publications as part of a
major restructuring amid Covid-19 pandemic. News Corp, which owns popular
tabloids like The Daily Telegraph and The Herald Sun, said on Wednesday the
move "will mean some job roles will change and, regretfully, will lead to job
losses." The publisher, however, didn't disclose how many people will lose job.
"Covid-19 has impacted News Corp shuts dozens of newspapers in Australia," News
Corp Australia Executive Chairman Michael Miller said in a statement. Miller
said print advertising contributed maximum to the company's revenue, but in the
wake of the Covid-19 pandemic revenue from this channel had significantly dried
up. "Despite the audiences of News Corp's digital mastheads growing more than
60 per cent as Australians turned to trusted media sources during the peak of
Covid-19 lockdowns, print advertising spending that contributes the majority of
our revenues has accelerated its decline," he said. (IANS)