In the UK, Murdoch’s losses show his monopoly adventures are winding down

Rupert Murdoch, the Australian-American media magnate and executive chairman of News Corp, has been facing significant challenges in the United Kingdom (UK) market, which has led to substantial losses for his media empire. The financial struggles of Murdoch's operations in the UK indicate that his attempts to consolidate media monopolies in the region may be coming to an end.

According to a report by The Guardian, News Corp's revenue in the UK and Ireland declined by 6% in the 2020 fiscal year, amounting to $3.5 billion (£2.6 billion). This decline was primarily driven by a 13% drop in print advertising revenue and a 3% decrease in subscription revenue. The company's broadcasting division, which includes Sky UK and Star India, saw a slight increase in revenue of 3%.

Murdoch's media empire in the UK has been under pressure due to various factors. One of the most significant challenges has been the decline in print media consumption and advertising revenue as more people turn to digital platforms for news and entertainment. Additionally, regulatory scrutiny and competition from other media conglomerates have made it increasingly difficult for News Corp to maintain its dominance in the market.

In 2019, Murdoch abandoned his bid to take full control of Sky Plc after facing opposition from regulators and shareholders. The failed attempt to acquire the remaining 61% of Sky that he did not already own marked a significant setback for Murdoch's ambitions to expand his media empire in the UK.

Moreover, News Corp's British newspapers, including The Sun and The Times, have faced criticism and controversy over their reporting practices and ethics. The phone-hacking scandal that came to light in 2011, which involved the illegal interception of voicemails of public figures and celebrities by News of the World journalists, significantly damaged Murdoch's reputation and led to a loss of trust among the public and advertisers.

In summary, Rupert Murdoch's media empire in the UK has been experiencing significant financial losses and challenges to its dominance in the market. The decline in print media consumption and advertising revenue, regulatory scrutiny, and competition from other media conglomerates have all contributed to these challenges. Additionally, controversies surrounding Murdoch's newspapers have damaged his reputation and trust among the public and advertisers. These factors suggest that Murdoch's attempts to consolidate media monopolies in the UK may be coming to an end.