Rejoice! Murdoch Press Losing MILLIONS

Beastrabban\'s Weblog

Here’s a bit of good news amidst the horrors of this Tory government, the floods, deportations, rampant racism and the Coronavirus: the Murdoch press is losing money. Very big money. Zelo Street has just put up a very revealing piece about their accounts for the period ending June 2019. This reveals that the Murdoch empire has been hit with a charge of £26,721,000 for one-off payments for legal fees and damages paid to the claimants in the phone hacking scandal. They’ve also incurred other one-off costs for UK newspaper matters of £25,737,000. Other charges include £1, 549,000 for the Management and Standards Committee. This means that the total damage is £54,007,000. Mind you, the directors still remain handsomely rewarded. They have been paid £5,191,000. Of which Rebecca Wade got £2,787,000. Overall, the company lost a total of £67, 952,000. The total loss for the financial year is £67,952,000. Which means…

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