News Corp posts US$1.5bn loss driven by sharp declines in newspaper revenue

Revenue collapses by 16% in Australia and 13% in the UK, while Foxtel loses 12% of its subscribers in Australia

News Corp has posted a US$1.5bn loss, with its Australian and United Kingdom newspaper businesses suffering sharp declines in revenue and its Foxtel pay-TV business in Australia bleeding subscribers, new financial results for 2019-20 show.

The global media giant released its financial results for 2019/20 on Thursday in the US. The reports paint a grim picture across the last quarter and year, with the exception of its Dow Jones business.