When Murdoch cries poor in Australia just remember that he spun out what newspapers traditionally made money on - the real estate ad business - into a separate company, REA (realestate.com.au), and today it's worth $20B

REA still makes up about 80% of news corps value.

When they talk about news being a bad loss-making business, they're talking about the newspapers that are subsidised by their online revenue and used to control politics in three major large democracies (yes, three - I count Australia!)