The existential crisis that has gripped Rupert Murdoch’s Australian arm began with a rude discovery just after 2pm on Wednesday afternoon. The Crikey news website had stumbled across some of News Corp’s most intimate lingerie, and had just put it all up on the the net.
... The 276-page document is called the Blue Book, a weekly and year-to-date rundown of results at June 30, 2013 for every News Corp business in the country. ... The great newspaper engine which was Rupert Murdoch’s original springboard to take over the world was already under stress. In 2013, 70 per cent of its earnings disappeared, leaving operating income precariously balanced at $87.6 million. As Crikey pointed out, trying hard not to gloat, another year even half as bad as 2013 could put News Australia into the red.
Crikey took the documents off line after legal threats, but it seems not before business reporters all over the world had a chance to download them.