from pimp to chimp, er chump
seems that there may be trouble in the jungle that is newscorp because the king of the jungle has a stubborn and unending love for the newspaper. the new york times asserts that murdoch’s “lifelong fondness for newspapers has become a significant drag on the fortunes of his company…the company recently took $8.4 billion in write-downs, including $3 billion on its newspaper unit, which includes the wall street journal’s publisher dow jones & company.” the article goes on to say that investors may not have the stomach to continue in a down economy given that “the hope for a turnaround in the newspaper business is looking elusive.”
word also came that peter chernin, the beloved second in command and long-time president and coo of news corp called it quits because they couldn’t come to an agreement on his contract. chernin is the #1 fan of fox interactive media, home to myspace, photobucket, ign, and scoutportfolio. there is question about what will happen with these properties in a post-chernin world.
note to rupie: seems like you might be the one who gets it in the next cartoon.
If you enjoyed this post, subscribe to our rss feed, ' or leave a comment.Similiar Stories:
Comments
No comments yet.
Leave a comment