• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home News Media

The Sun records £68m loss as cost of phone-hacking claims hits

Rupert Murdoch’s News Group Newspapers spent an enormous £54 million on legal fees and damages related to the illegal interception of voicemails.

Jack Peat by Jack Peat
2020-02-23 17:10
in Media, News
FacebookTwitterLinkedinEmailWhatsapp

The Sun recorded a loss of £68 million last year as the cost of phone-hacking claims continues to bite.

Declining readership of its print publication also contributed to the bleak financial picture, with paid circulation dipping below 1.1m copies a day.

Legal fees

Rupert Murdoch’s News Group Newspapers spent an enormous £54 million on legal fees and damages related to the illegal interception of voicemails.

The figures, which cover the 12 months to July 2019, were revealed in accounts filed this weekend.

They show that more a decade after the phone-hacking scandal began, the company is still spending an eighth of its revenue dealing with the fallout, as new cases involving the likes of Prince Harry continue to be filed at the high court.

Could have been much worse

The losses could have been much worse had the company not received a windfall as a result of the collapse of its Sun Bets gambling venture.

The joint venture with the Australian betting company Tabcorp was considered such a disaster by the bookmaker that it paid the newspaper a £39.5 million fee to exit the deal early.

The Sun has previously said it would welcome a new partner for its gambling operation, although it has yet to find a replacement and accounts suggest there is more potential growth at its Sun Bingo operation.

Related: Starmer calls for Labour unity as members prepare to vote for new leader

RelatedPosts

Gary Lineker says BBC should ‘hold its head in shame’ for not airing Gaza documentary

BBC to stop showing ‘high risk’ performances after Bob Vylan Glastonbury controversy

Keir Starmer confirms Rachel Reeves will be Chancellor ‘for a very long time to come’

Trump complains about lack of porn access in White House, says former aide

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Concern expressed over reports PM ordered staff to find ways around NI protocol ← Labour members begin voting for Jeremy Corbyn’s successor
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->