My online general news site of choice is Fox News, followed by Bloomberg.
My regular morning routine includes checking top news at the general sites, then cruising swiftly through RSS fields of dozens of sites using Google Reader.
One of those dozens of sites is John Hempton’s Bronte Capital, a blog remarkable for its bare design. This morning, Mr. Hempton published data on quarterly operating profit for News Corp. that I turned into the posted graph.
Mr. Hempton admits to being a liberal pundit and unhappy that liberal new media cannot seem to duplicate the business results of News Corp.
News Corp. owns Fox News, and Fox News is the main driver of News Corp.’s operating profit.
If only more businesses showed a similar operating profit profile.
Instead, we have cliff-diving revenue and trampolining unemployment.
And Mr. Hempton’s commentary:
I hope – sincerely hope – that Josh Marshall, Markos Moulitsas and others of the new media liberal elite can make a go of it. But the conservative side generates operating profits of half a billion per quarter and that gives them a longevity (and power) that the new media – for all its obvious intelligence – can only watch in gob-smacked wonder.
The liberal new media elite won’t have to “make a go of it” if the liberal new (and old) media become bailed-out government mouthpieces.
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Tags: conservatism, fox news, Josh Marshall, Markos Moulitsas, News Corporation, Rupert Murdoch
