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Murdoch: Ignorant consultants responsible for News Corp’s financial woes

News Corp boss Rupert Murdoch has blamed consultants for the collapse in the company’s Australian revenues.

murdoch consultants tweet

Figures released by the company in September revealed that revenues from its Australian newspapers had dropped by $350m, a fall of 15 per cent.

The fall came during the short tenure of Kim Williams who abruptly left the company shortly before the numbers were revealedNew CEO Julian Clarke has already moved to reverse many of the changes to the centralised advertising sales structure put in place by Williams.

Many of Williams’ strategic moves were linked to advice provided by management consultancy Boston Consulting.

Over the weekend Murdoch who attended the company’s annual awards event, tweeted: “Newscorp sad case of damage by ignorant consultants. Fast being repaired by infusion of experienced managers.”

Boston had not returned Mumbrella’s call at the time of posting.

News Corp is not the only media organisation to have called in consultants. Bain & Co has been advising both Fairfax Media and B2B publisher Cirrus which bought the local assets of Reed Business Information at the beginning of the year.

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