From the Washington Post, another story pointing out the difficulties newspapers face in the digital age:
Earlier this year, Rupert Murdoch's media empire -- spanning
television, newspapers, and Web sites across America and the
Commonwealth -- split into two. Investors had pushed for the change, figuring that the broadcasting assets could do better without being shackled to the financially challenged publishing side. Murdoch finally acquiesced, but put a positive spin on it, declaring that the future of newspapers was bright.
Well, maybe, but there's not much evidence of it yet. The resulting
television-focused company, 21st Century Fox, earlier this month
reported strong revenue growth with profits hampered only by new investments in a sports network designed to rival ESPN. And Monday, the severed Newscorp disappointed analysts' already low expectations,
with revenue declining 3 percent overall after poor advertising sales
and a particularly huge drop in its Australian newspapers.
"We collectively recognize the need to evolve," said chief executive Robert Thomson, on the company's earnings call, talking up how the company is making progress on mobile and introducing new subscription models.
