Like he has in the past, Rupert Murdoch declares that his newspaper and local TV ad businesses are doing terribly, but that the rest of the company is growing great guns. Or at least enough to ride out a downturn.
And New York Times readers and/or employees who fear that Rupert was going to buy the crown jewel of American journalism can relax. Not going to happen, he says.
Joining late… more
“Hard times are good for big companies”
Biggest challenges/uncertainties for next few years?
I don’t see uncertainties. I can’t see the future. But consumer advertising – newspapers all over the world and local stations in our case – is bad. But we have big profit drivers (cable, etc) that can counter bad things happen to us in traditional advertising.