Can Rupert Murdoch save The Sun? – The Drum Opinion – It is hard to imagine a long-term future for News Corp in British papers. But if Rupert Murdoch wants to save The Sun he must get on the front foot. (Australian Broadcasting Corporation)
Fast forward 25 years and the Wapping print operation is closed because News Corp has now completed $1.5 billion-plus investment in new printing facilities, including a huge new facility at Einfeld, north of London.
In September last year, News Corp announced it was selling the entire 15-acre Wapping site, with analysts predicting it could fetch about $300 million.
Rather than just selling the Wapping site in response to the phone hacking scandal, the News Corp board should have moved to sell the entire UK newspaper operation.
The enormous cash flows appear to have evaporated along with the political clout and protection that the tabloids delivered.
For evidence, look no further than the swirling phone hacking scandal and resultant regulatory, political and police backlash.
News of the World has been closed and it is now an open question whether The Sun will survive after several of its key leadership players were arrested over the weekend, including the picture editor, chief reporter, news editor, chief foreign correspondent and deputy news editor.
That’s like a football team losing five of its 10 best players, and suggests institutionalised corruption.
via Can Rupert Murdoch save The Sun? – The Drum Opinion – It is hard to imagine a long-term future for News Corp in British papers. But if Rupert Murdoch wants to save The Sun he must get on the front foot. (Australian Broadcasting Corporation).