Lachlan and Rupert Murdoch. Adrian Edwards/GC Images Australian media is bracing for a major shakeup of the Murdoch empire’s News Corp portfolio, including significant job cuts, reflecting the legacy outlets’ diminishing money-making abilities. The company, which owns national broadsheet The Australian and the site News.com.au, along with several local newspapers, has cut around 1,000 people each year over the last decade, while effectively consolidating and nationalizing its local outlets, offering them through a single subscription. It has resulted in “near identical, all-caps headlines shrieking the same message around the coast from Adelaide to Cairns,” Crikey’s media columnist wrote. The Murdochs’ once-powerful and profitable mish-mash of legacy properties is now “just hard work,” begging the question, “For how long will the largely disengaged … family continue to care?” |