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NWS / News Corp looking to AI in a bid to slash costs after profits tumble 75%

News Corp (NASDAQ:NWS), the owner of the Sun and the Times newspapers, has reported a 75% decline in its annual profit and said it will roll out AI-generated content in a bid to cut costs. The company's net income for the financial year ended June 30 stood dropped to $187m in the 12 months just gone from $760m a year earlier as it was hit by a decline in ad income, which was felt most acutely in the UK and Australia. Read More

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Posted: Aug 11 2023, 03:25

Author Name: Proactive Investors

NWS News

By CNBC Television
October 16, 2023

Activist Starboard builds stake in News Corp, will push for changes

CNBC's Alex Sherman and Julia Boorstin joins 'Power Lunch' to discuss Starboard acquiring stake in News Corp.

By Investopedia
October 16, 2023

News Corp Shares Jump After Report Activist Investor Is Looking to Make Changes

Shares of News Corp (NWSA) gained in early trading on Monday following reports activist investor Starboard Value has added to its stake in Rupert Murd

By Invezz
October 16, 2023

Starboard building a stake in News Corp ‘doesn't make much sense'

Starboard Value has built a sizable stake in News Corp (NASDAQ: NWSA). Shares of the mass media company are up 3.0% at writing.

By Proactive Investors
October 16, 2023

Activist investor eyes up News Corp as Murdoch resignation looms

Rupert Murdoch's media empire News Corp (NASDAQ:NWS) has reportedly become the latest target of activist investor Starboard Value. Seeking to implemen

By Market Watch
October 15, 2023

Activist investor Starboard reportedly seeks changes at News Corp

Activist investor Starboard Value has built a stake in Rupert Murdoch's News Corp, and intends to push for changes at the parent company of MarketWatc

By WSJ
October 15, 2023

Activist Builds News Corp Stake, Plans to Seek Changes

Starboard believes the media company trades at a significant discount due to its structure.

By Proactive Investors
September 21, 2023

Rupert Murdoch to end seven-decade reign as news media mogul

News mogul Rupert Murdoch is officially stepping down as chairman of News Corp (NASDAQ:NWS) and Fox, ending a career spanning seven decades, four marr

By NYTimes
September 21, 2023

Rupert Murdoch to Retire From Fox and News Corporation Boards

The move leaves his son Lachlan as the sole executive in charge of the global media empire.

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