| For the three months ending March 31, News Corp's revenue fell 1.8% to $2.45B, while its net profit fell by 39% to $50M. Dow Jones & Co., the parent company of The Wall Street Journal,
recorded an 8.6% increase in revenue to $529M despite a 6% decline in ad
income. - According to News Corp, the
use of generative AI should be compensated, which highlighted concerns
about its effect on intellectual property.
- By year's end, News Corp hopes to save at least $160M annually by cutting 5% of its workforce.
- A
total of 3.299 million digital subscriptions to The Wall Street Journal
were added during the time frame, an increase of 132,000.
- While
the book-publishing division, HarperCollins Publishers, had a 9% loss
in segment profitability, other News Corp. news outlets reported a 2.9%
decline in revenue.
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