UPDATE 1-News Corp sees hit to ad revenue from coronavirus pandemic [Reuters]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
investors.newscorp.com/investor-relations
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Source: Reuters
UPDATE 1-News Corp sees hit to ad revenue from coronavirus pandemic (Adds background details) April 13 (Reuters) - Rupert Murdoch’s News Corp said on Monday its newspaper advertising revenue would take a hit from widespread business closures caused by the coronavirus outbreak, although paid digital subscriptions for the Wall Street Journal are rising. Readers are flocking to news outlets for information about the pandemic, but ad revenue has still plummeted for many publishers as companies slash marketing budgets and hesitate to have their brands advertised near coronavirus coverage. News Corp said book publishing sales and revenue from video subscription services would also likely be dented as brick-and-mortar retail stores are shuttered and sporting events that it broadcasts are canceled or postponed. A representative for Reuters news organization previously said the company has also experienced an impact on advertising revenue. Thomson Reuters Inc, the parent of Reuters News, compe
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