After decades as one of Britain’s most-read tabloids, Rupert Murdoch’s The Sun newspaper has had its value written down to zero, financial accounts filed on Thursday said.
Annual accounts for News Group Newspapers, which is owned by News UK, part of Mr. Murdoch’s News Corp, also showed the company lost more than 200 million pounds in the fiscal year that ended June 2020.
News Group Newspapers owns The Sun, The Sun on Sunday and The Sun’s website.
A tabloid known for its conservative politics and sensational headlines, The Sun is the second-most read newspaper in Britain, after The Daily Mail.
Because of the decline in print advertising and lost circulation, the company’s “publishing rights and titles” were written down with an impairment charge of £84 million.
Sun, News Group Newspapers, News UK, Murdoch’s News Corp, Revenue, The Daily