Move follows £200m loss caused by Covid-19 pandemic and one-off charges related to phone hacking
Rupert Murdoch has written down the value of the Sun newspapers to zero as the impact of the Covid-19 pandemic helped to fuel a £200m loss at his flagship tabloid titles.
Advertising and sales revenues at the Sun and the Sun on Sunday plummeted, with turnover falling by 23% from £419.9m to £324m in the year to the end of June 2020.
Continue reading...source https://www.theguardian.com/media/2021/jun/11/rupert-murdoch-writes-down-value-of-sun-newspapers-to-zero
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