Murdoch screws the puppy. Again.

[Tannin]

As we know, for years Murdoch's News Corp has lost gazillions on publishing its flagship in-house magazine for the IPA/Liberal Party, known for some mysterious reason, as "The Australian". As you know, it's an appallingly bad shill sheet still somehow managing to pretend that it is a sort of newspaper, and it loses vast amounts of money. No-one knows why Rupert is still allowed to deduct those losses against the tax he never pays as "business expenditure". Let's face it, The Australian isn't a business, it isn't even trying to make money and it never will: it's a hobby, and claiming it as a tax-free money sink is as ridiculous as if I was to claim expenses on cocaine, porn, and Russian prostitutes.

Be that as it may, Rupert's News Corp looses millions printing copies of The Australian which mostly go straight back into the shredder, and pays for it all by snaffling all the profits from the relatively healthy mass-circulation lowbrow dailies - Herald-Scum, Daily Terrorgraph, Courier-Fail and so on. (They ain't healthy, mark you, just not as terminal as the flagship broadsheet.)

But it's getting hard. Even Rupert can't afford to carry such massive losses forever. Right now, News Corp Australia is loosing a phenomenal $1148 million a year. Ouch!

So what is Rupert doing? Slashing costs at The Australian? Finally shutting the sad joke down and admitting defeat?

Nope. He's leaving that particular gaping financial wound alone to fester and cutting hundreds of jobs and millions of dollars out of the (relatively) healthy tabloid rags.

Go figure.

[Mugwump]

Different economics : $1.15 billion a year for the political influence The Australian buys him is probably a bargain.

[HAL]

When is Different economics $1point 15 billion a year for the influence The Australian buys him not a bargain?

[stui magpie]

[Dave The Man]

He is a Criminal but the Goverment does nothing as he Bribes them