At the annual meeting of News Corporation yesterday, Rupert Murdoch admitted that the Sun’s 20p cover price cost the paper £1m a week at one stage. He said that the price of the paper, now 22p,would gradually rise.
“We expect to hold the majority of our circulation gain as we go back up in price slowly.”
Of The Times, he said, “we will keep the pressure on there and keep going.”
The forthcoming flotation of BSkyB could value the company at £6.25bn, the highest figure quoted yet, according to Mr Murdoch at yesterday’s News Corp annual meeting. A pathfinder document is expected next month; with flotation most likely in mid-December.
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