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Much of what you say is probably true. But, it's worth being aware that much of today's announced losses was in a writedown of the major mastheads (I.e, a paper loss - irony intended :) ). FWIW, the papers made a profit last year. A smaller profit than the previous year, it is true, but they...

The Oz is Rupert's vanity project - so he can say he has the national newspaper. And the print media has already moved into digital media - it's working out how to make a quid out of it that is proving to be the big problem.

In fact, the newspapers still make money - just not nearly as much as they used to http://articles.marketwatch.com/2011-02-23/industries/30724017_1_national-advertising-revenues-executive-appointments-firm

FWIW, Marinya Media Pty Ltd is the Fairfax family, by way of their holdings in the former Rural Press. I think they have since sold at least part of their stake.