News Limited staff told to be ready for big announcement at 1.45pm

Staff at News Limited will have a better idea of their fate at 1.45pm EST today.

The company has told staff that a video message from CEO Kim Williams will appear on their computers at that time.

Among the changes already flagged up today are a $2bn bid to up News Limited’s stake in Australian pay TV, and the company is also reported to be on the verge of acquiring Business Spectator.

There are also predictions of hundreds of job losses as the company seeks to streamline its print operations.

Mumbrella understands that editors from News Limited titles around the country are being brief by Williams about now.

Today’s announcement comes in the same week that Fairfax Media made similarly sweeping moves with 1900 job cuts, a move to tabloid format for the Sydney Morning Herald and The Age.


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