Figures published by the company in New York show a slide in subscriptions, print and online, at its once-dominant metropolitan newspapers in the last year.
was at 547,411 as of June 30. That is down almost 2 per cent in a year.
Figures contained in a presentation given to staff by Mr Miller that month showed digital advertising was expected to add 19 per cent less than forecast as a proportion of its budget bottom line in the year to June 30. The proportion from subscriptions was 12 per cent below forecasts. News Corp has cut more than $US160 million in costs over the past six months, and last week delivered above-expected earnings despite a sharp 75 per cent fall in net profits. The company also owns publications including, as well as Foxtel and stakes in REA Group and Move, a North American real estate platform.Analysts and brokers, however, are bullish on the company’s prospects.
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