Some interesting comments in the AFR today. Once Rupert eventually moves on, it would seem inevitable that the owners of News Corp will require The Australian newspaper to radically adjust its business model so that it is a financially viable concern. The AFR reports:
Mr Williams also said he aimed to make News’s flagship masthead The Australian profitable. The newspaper is reputed to be losing $20 million a year. “I’m eager for The Australian to operate on a break-even basis and eventually I’m sure that the paper can actually return to profitability,” he said.
When asked how long the newspaper could tolerate journalists’ salaries making up two-thirds of editorial costs on The Australian, Mr Williams said it was “a discussion that [editor-in-chief] Chris [Mitchell] and I will initiate”.
In relation to News’s plans to restructure its mastheads for print, digital and TV delivery platforms, and cut the number of operating divisions from 19 to five, Mr Williams said: “I don’t have a number on redundancies.”
