Right wing propaganda oligarch Rupert Murdoch’s News Corp, publisher of the New York Post, the Wall Street Journal, the Australian, the Times of London, and the Sun, among others, recorded a 75 percent decline in net profit from $760 million in 2021-2022 to $187 million in 2022-2023, mostly owing to lower advertising revenue for the empire’s outlets in Australia, the Guardian reports.
The profit hit has the douchebags who run the vast array of media outlets (separate from Fox News and other television properties) naturally looking at AI-generated content as a means of trimming expenses. “That momentum is surely gathering pace in the age of generative AI, which we believe presents a remarkable opportunity to create a new stream of revenues, while allowing us to reduce costs across the business,” said News Corp Chief Executive Rob Thompson, adding “We are already in active negotiations to establish a value for our unique content sets and (intellectual property) that will play a crucial role in the future of AI,” whatever the fuck that actually means in practice.