Times Media Profits Double, Sun Parent Company Loses £127.3 Million mdi-fullscreen

A mixed bag overall for Murdoch’s UK print media empire. The latest accounts for Times Media, publisher of The Times and The Sunday Times, show profits doubled to £73.2 million last year, up from £34 million the year before. They also gained 70,000 digital-only subscribers, bringing their online total to 438,000, or 641,000 including print.

The Sun, meanwhile, more than doubled its pre-tax losses to £127 million in the same period – thanks largely to the £99.8m set aside for “damages and claimant’s legal expenses relating to phone hacking” and “future costs“. Revenues rose slightly from £318.6 million to £320.5 million following growth in their online business. 

As for TalkTV, News UK Broadcasting lost £34 million after the channel’s launch last April, with revenues at a teensy weensy £1.1 million – despite all Morgan’s boasts about being big on social media. They’ll need to sell a lot more ads to come close to covering Piers’ salary…
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