Rupert Murdoch slashes value of newspaper empire
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rupert Murdoch's News Corp has scrubbed billions of dollars from the value of its newspaper publishing businesses and promised a big programme of cost cuts over the next year. James Murdoch, still embroiled in the legal and political investigations into whether he helped cover up the scandal while running the UK newspaper business, appeared for the first time on a conference call with Wall Street to discuss the latest results, although he confined his remarks to answering a question about the Sky Italia satellite TV business. In the UK, where Tom Mockridge was appointed chief executive of the Murdoch titles 13 months ago, Mr Carey said he expected the company would be "moving into a very significant restructuring this year".
History of this topic

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