Newscorp in decline in Australia

Little wonder. His stuff is so biased readers are turning away. It's easier just to read what's on the Lieberal party website, why go read a paper saying the same thing?

Media analyst Steve Allen from Fusion Strategy has looked over the documents and says Mr Murdoch will soon have to make some tough choices. 

"The first set of decisions would be how could we substantially slim down, how can we make all of our operations more efficient?" he said. 

"Because the trend says they won't be making money in a year or two." 

Independent financial analyst Mark McDonnell says he is staggered at how inaccurate News Corp's own internal forecasts are. 

"Pretty much for every area of their business, their internal forecasting is woeful," he said. 

"It's very surprising, it's even more surprising that external analysts can get a better fix on the companies performance than people internally. 

"The rate of decline in those titles - the Herald Sun, the Daily Telegraph in Sydney - is well into the double digits and in earnings terms is highly material and very concerning." more