We reported earlier that the NY Times is finding success with its paywall model for generating revenues and increasing profits. On the other side of the fence is News Corp, which has walked along similar paths over the past couple of years but can't seem to find the right mix and is now showing a loss of $2.1 billion in its recent SEC filing.
According to Techcrunch:
The non-cash loss is attributed to the closing of the News of the World as well as “a write-down of New News Corporation’s goodwill of approximately $1.3 billion and a write-down of the indefinite-lived intangible assets (primarily newspaper mastheads and distribution networks).” The company also closed the Daily this month.
Spotted an error?Report a correction →
About the Author
@sal-mccloskeyWriter
Sal McCloskey is a tech blogger in Los Angeles who (sadly) falls into the stereotype associated with nerds. Yes, he's a Star Trek fan and writes about it on Uberly. His glasses are thick and his allergies are thicker. Despite all that, he's (somehow) married to a beautiful woman and has 4 kids.
