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News Corp Australia Doesn't Want You To Look Closely At Their Financials

Posted by timothy on from the but-they're-australian-dollars dept.

Presto Vivace writes with news of an embarrassing discovery for Rupert Murdoch's News Corp about the company's financial state, which might draw less attention if News Corp hadn't tried to prevent people from using the information: "The existential crisis that has gripped Rupert Murdoch's Australian arm began with a rude discovery just after 2pm on Wednesday afternoon. The Crikey news website had stumbled across some of News Corp's most intimate lingerie, and had just put it all up on the the net. ... The 276-page document is called the Blue Book, a weekly and year-to-date rundown of results at June 30, 2013 for every News Corp business in the country. ... The great newspaper engine which was Rupert Murdoch's original springboard to take over the world was already under stress. In 2013, 70 per cent of its earnings disappeared, leaving operating income precariously balanced at $87.6 million. As Crikey pointed out, trying hard not to gloat, another year even half as bad as 2013 could put News Australia into the red." Crikey took the documents off line after legal threats, but it seems not before business reporters all over the world had a chance to download them."

5 of 132 comments (clear)

  1. Rupert Murdoch Streisand by Dutchmaan · · Score: 4, Funny

    "Don't look at my financials... nothing to see here!!!! seriously go away!"

    1. Re:Rupert Murdoch Streisand by QRDeNameland · · Score: 3, Funny

      Personally, I would have gone with "Put another shrimp on the barbie Streisand, mate."

      --
      Momentarily, the need for the construction of new light will no longer exist.
    2. Re:Rupert Murdoch Streisand by QRDeNameland · · Score: 3, Funny

      I dunno, ask Paul Hogan and the Australian Tourism Commission.

      --
      Momentarily, the need for the construction of new light will no longer exist.
    3. Re:Rupert Murdoch Streisand by cryptolemur · · Score: 3, Funny

      In a free market society they would have to disclose all information, of course. Otherwise the market would not work properly, because the consumers could not make well informed decision...

  2. Re:New for Nerds? by godel_56 · · Score: 4, Funny

    It's not nothing. It's a glimmer of hope for us here in Australia, that that piece of shit Murdoch could eventually lose his near monopoly in Australian newspapers - and, therefore, a significant part of his ability to manipulate the government. And not before time.

    With our luck, he'd probably sell the papers to Gina Rinehart. :-(