Rupert Murdoch’s Australian publishing empire has begun the painful task of shedding long-serving journalists amid falling revenues across the media industry.
News Corp’s Australian publishing empire has begun the task of shedding long-serving journalists from its editorial and executive ranks as it embarks on a major corporate restructure to adjust to falling revenues across the media industry.
Peter Blunden, the last of the old-school News Corp editors whose proximity to Rupert Murdoch saw him wield enormous influence over the company’s Victorian affairs, will relinquish responsibility for the national reporting teams. However, he will retain his board positions as he steps back to three days a week.
A senior executive, familiar with the changes but not authorised to speak publicly about them, said the new restructure recognised that different parts of the publishing empire, which operate on difficult financial models, needed greater autonomy to serve their existing readers and develop future strategies.It will also give masthead editors and particularly English, greater direct control over the work of journalists and producers assigned to the National News Network.
Managers and executives had known for months of the impending restructure, with some taking redundancies as early as February. Others learnt their fate this week.
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