TalkTV lost more than £90m before Rupert Murdoch shut down TV channel [Yahoo! Finance]
News Corporation - Class B (NWS)
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Source: Yahoo! Finance
Accounts filed for Mr Murdoch's News UK empire show the fledgling station's losses deepened to £54m in the year to July 2023. It takes total losses for the venture to £88m in just two years. TalkTV launched in 2022 with the aim of replicating the success of opinionated US broadcasters such as Fox News. But the channel was eclipsed by its upstart rival GB News , and has been plagued by lacklustre viewing figures, with many shows attracting audiences in the low thousands. The hefty losses prompted News UK to shut down the terrestrial channel in March – weeks after Piers Morgan said he was ditching his nightly slot on the channel , which he branded a “straitjacket”, to pursue his show on YouTube. TalkTV will move to a streaming-only model from the early summer. Bosses said the higher costs at TalkTV, which is drawing down on a £20m overdraft facility from parent company News Corp, were linked to increased programming as the station expanded its primetime coverage. Staff cost
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