News Corp. Not the Only Struggling Australian Media Company
In the past six month, the stock price of Rupert Murdoch’s News Corp has plummeted from more than $18 per share to a little over $8 a share.
But hey, Rupe’s in good company. Shares of Fairfax Media, which publishes the Sydney Morning Herald, have dropped 68 percent this year, while the Australian market as a whole has only fallen 44 percent.
Earlier today, this prompted CEO David Kirk (a former captain of New Zealand’s All Blacks rugby team) to resign
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