Rupert Murdoch seeks $100m cuts at Dow Jones | City | MediaGuardian.co.uk
Well, despite all the protestations that he wasn’t a wolf in sheep’s clothing Rupert Murdoch has quickly moved to realise a profit on his purchase of the Wall Street Journal.
In a media interview he talks of saving over $100 million. He can only do that by junking the journalism.
Perhaps nude stocks and bonds traders on page 3 Rupert? Why not, it’s worked for him before.
Or ‘stock exchange bingo’ – one lucky reader can win shares in the newly revitalised Dow Jones company, where you don’t pay for any fancy overheads – like reporters.
“We’ve already identified the low hanging fruit will be $100m in savings,” Mr Murdoch told the conference in New York, in comments reported by Reuters. “But we’re about expanding revenue.” Mr Murdoch added that News Corp saw “nothing in sight” in terms of buying further assets.
Thanks, Rupe, an old wolf doesn’t lose its bite, just a bit of fur above the ears.