Guardian: News Corp profits dive 75% as Rupert Murdoch-owned company hints at AI future

For the first time, News Corp generated more than half of its revenue from digital streams and the media company revealed an upbeat assessment of the potential of generative AI, capable of producing text, images, video and other media, to drive profits.

“That momentum is surely gathering pace in the age of generative AI, which we believe presents a remarkable opportunity to create a new stream of revenues, while allowing us to reduce costs across the business,” said News Corp chief executive Robert Thomson.

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The company’s Australian arm recently disclosed it was producing 3,000 articles a week using generative AI.