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Fri Jun 11, 2021, 11:23 AM

Murdoch's Sun, U.K.'s Biggest Paper for Decades, Now Worth Zero

Source: Bloomberg

Rupert Murdochís News Corp. wrote down the value of its once high-flying Sun title to zero, underscoring the dramatic decline in Britainís newspaper industry.

The tabloidís blend of gossip and right-wing political coverage has made it Britainís most widely-read paper for more than four decades, until the rival Daily Mail claimed the title last year.

Its editors have struggled to carve out a place for the paper in a new world of online news -- trying a paywall model before abandoning it -- and attempting to move on from a phone hacking scandal that blew up a decade ago, damaging the Sunís credibility as a campaigner for social causes.

News Corp. said its cash flow forecasts for the Sun led it to book an impairment of 84 million pounds ($119 million) in 2020, according to its accounts published Friday. The carrying value of its publishing rights and titles as of June 28 last year fell to zero from 112 million pounds in 2019.


Read more: https://www.bloomberg.com/news/articles/2021-06-11/murdoch-s-sun-u-k-s-biggest-paper-for-decades-now-worth-zero





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Reply Murdoch's Sun, U.K.'s Biggest Paper for Decades, Now Worth Zero (Original post)
brooklynite Friday OP
leftieNanner Friday #1
regnaD kciN Friday #12
mahatmakanejeeves Friday #2
muriel_volestrangler Friday #4
pecosbob Friday #3
IronLionZion Friday #7
quakerboy Friday #5
monkeyman1 Friday #6
BigmanPigman Friday #8
GeoWilliam750 Friday #11
BigmanPigman Friday #13
GeoWilliam750 Friday #14
LogicFirst Friday #9
rpannier Friday #10
cinematicdiversions Friday #15
ck4829 Monday #16

Response to brooklynite (Original post)

Fri Jun 11, 2021, 11:29 AM

1. I hate for any newspaper to fail

But in this case I'll make an exception.

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Response to leftieNanner (Reply #1)

Fri Jun 11, 2021, 09:22 PM

12. Couldn't happen to a more deserving rag...



#JFT96

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 11:32 AM

2. Now where will I go to see saucy lasses on page 6?

Full disclosure: I have no idea if the Sun is the paper that does that.

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Response to mahatmakanejeeves (Reply #2)

Fri Jun 11, 2021, 12:54 PM

4. It was, but it was Page Three

And they stopped it as a daily feature some time ago.

It's not that it's closing, of course; Murdoch may be a businessman, but he also wants to keep his political platform open in the UK. Plus he still owns HarperCollins, and the opportunity to push their books won't have been acknowledged in the valuation (because they're not meant to do it).

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 11:47 AM

3. I find it difficult to believe that one of Murdoch's papers ever 'campaigned for social causes'.

Over here typically his media outlets only spew hate, racism and violence.

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Response to pecosbob (Reply #3)

Fri Jun 11, 2021, 03:06 PM

7. For RW social causes

they are on the side promoting hate, racism, and violence.

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 01:38 PM

5. fine, im sure they will rush to take my offer of a shiny 2 pound coin for the whole lot

since its worth zero and all.

gotta love the way they can dodge around the truth with creative accounting.

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 02:19 PM

6. to me fox news not worth a plug nickel !!

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 04:26 PM

8. Its best use is to wrap fish

or line the birdcage.

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Response to BigmanPigman (Reply #8)

Fri Jun 11, 2021, 09:12 PM

11. In the wise words of Mike Royko

"No self-respecting fish would want to be wrapped in a Murdoch paper", and that "his goal is not quality journalism. His goal is vast power for Rupert Murdoch, political power".

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Response to GeoWilliam750 (Reply #11)

Fri Jun 11, 2021, 09:27 PM

13. I don't know who Royco is but I like the way he thinks.

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Response to BigmanPigman (Reply #13)

Fri Jun 11, 2021, 10:05 PM

14. Mike Royko is well worth reading

He was probably the best columnist of the last 60 years, and although he died in 1997, his work is still highly readable - his are among the few books I have read twice. "Like I Was Saying" is a good start.

https://en.wikipedia.org/wiki/Mike_Royko

He hated Murdoch back in the 1980s.

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 05:56 PM

9. He's still got Sky News in Australia. It's worse than Fox.

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Response to brooklynite (Original post)

Fri Jun 11, 2021, 08:53 PM

10. Yes, Prime Minsiter sums up the Sun and its worth quite nicely



The Sun is the last of the papers it skewers and its pretty much on target -- the Sun never changed

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Response to rpannier (Reply #10)

Fri Jun 11, 2021, 10:25 PM

15. A classic always good for a laugh. (And still true after forty years) NT

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Response to brooklynite (Original post)

Mon Jun 14, 2021, 12:03 AM

16. K&R

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