Conrad Black, announcing results for the nine months to September 30 this morning for the Telegraph has said it is up to Rupert Murdoch to end the UK newspaper price war. “He started the war, he can finish it”, Mr Black said.
The price war has had effects on the pre-tax profits, which fell by £11.3m, 25%, to £33.9m so far in 1994. The Telegraph says that the benefits of the cost-cutting and success in raising advertising revenues will begin to show in the fourth quarter and be fully effective in 1995.
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