News Corp is reportedly set to jack up the prices of its metropolitan tabloids across Australia by a “substantial” amount.
The corporation, which publishes The Australian, The Herald Sun, and The Daily Telegraph among others, is apparently calling on the price hikes in response to a weaker advertising market and an ageing print readership.
News Corp is also reportedly planning to redesign the print editions of The Daily Telegraph, The Herald Sun, and The Courier-Mail, as part of the changes. Both the price rises and the redesigns have been approved by News Corp chief executive Robert Thomson.
News Corp most recently raised prices for the weekend editions of its tabloids last August by 50 cents to $4. The weekday editions cost $2.50. The Australian also costs $4.
Sources that have spoken to The Sydney Morning Herald, published by Nine Entertainment Co, said that the redesigns of the papers would have shorter, smaller headlines, as well as smaller fonts to provide more words in print. A major increase in the cost of paper has also hit the bottom lines of publishers.
Last week, News Corp’s executive chairman, Rupert Murdoch, put the brakes on a planned merger between his two companies, News Corp and Fox Corp, and said it was not in the best interest of shareholders.
