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.
The restructure, shaped by PwC consultants, removes the last remnants of the state-based fiefdoms that once ran the Murdoch empire under all-powerful former masthead editors. The full impact of the restructure on newsrooms will become clear once staffing decisions are made by the new bosses on how to best meet their budgets.
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