Thursday, 7 July 2011
News of the World to close
However, this is a great example of not wasting a good crisis. Given the understandable outrage generated by the paper its brand was very damaged. No doubt News Corp recalled the Sun boycott in Liverpool after Hillsborough.
So that meant drastic action was needed. However, newspapers are highly unionised entities and not easy to change or close down - given their staff prediliction and ability to complain in public. News of the World was loss-making and many people can see the newspaper business model is under severe challenge from the internet. So this is a great opportunity to do the right thing and also manage to exit a business which was struggling in any event - and how can the Unions complain?
Clever move and personally I shan't miss the News of the Screws in any event.