News Corporation will rip $40 million in costs out of its Australian publishing arm in 2016-17, some of which will come from job cuts, as the Rupert Murdoch-controlled company deals with falling advertising revenue and a shift to digital.
Advertising revenue at News Corp Australia fell 11 per cent in local currency in the first quarter, which was relatively similar to the same period last year, News Corp chief financial officer Bedi Singh told investors on Tuesday morning during the company's financial results call.
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Max Mason covers insolvency, courts, regulation, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
