Rupert Murdoch "may not have to worry about paying back his loans, but the challenges are piling up in almost every corner of his empire", says a Financial Times analysis today. It continues:
"From its billboards in Moscow and television stations in Bulgaria, to supposedly healthier businesses such as its IGN online video game arm and Star television in India, the usually bullish group is being forced to pull in its horns.
"Even at the Wall Street Journal, Mr Murdoch's newest trophy, he is having to cut staffing where once he had promised heavy investment... Some analysts now worry that News Corp's mix of assets has left it with bigger vulnerabilities than large rivals such as Walt Disney and Time Warner."
The piece goes on to quote analysts who believe there are problems ahead for Murdoch's company, and it also refers to "speculation... that Peter Chernin, the News Corp chief operating officer who has become one of America's most admired media executives, could leave the company."
What the piece does not mention is that Murdoch's response to the current problems will be cutbacks in Britain. His UK outfit, News International, is expected to announce redundancies in the coming week.
