Wednesday, August 5, 2009

Murdoch Will Start Charging for All His News Websites Next Year

News Corp. Chairman and Chief Executive Rupert Murdoch said today that News Corp. plans to charge reader fees for all its news websites in 2010, writes Shira Ovide of the Wall Street Journal.

News Corp. executives offered few details of how they will implement the new business plans, the report said.

News Corp. reported a loss for its latest quarter, dragged down by charges related to MySpace and other assets and by a steep decline in its television and newspaper businesses.

The company took $680 million in charges, in part to write down the value of the unit that includes MySpace. It bought MySpace's parent company four years ago for $650 million, but the social-networking site has struggled to generate consistent profits, and its advertising revenue declined again.

No comments: