出版业务的利润率比该公司的影视业务要低很多,并且面临着在线资讯机构的激烈竞争。据美国报业协会(Newspaper Association of America)估计,过去五年来,全行业报纸广告累计下滑了约50%。尽管《华尔街日报》的付费用户数量增加,并且用收费墙对内容构成了保护,但新剥离的出版公司将面临严峻的挑战。
'Without deeper cost-cutting, given print advertising's continuing spiral downward, the new company's thin 7% profit margin would disappear quickly,' wrote Ken Doctor, an analyst of the news industry at Outsell.
美国市场调研公司Outsell资讯业分析师多克特(Ken Doctor)说,在没有更大幅度成本削减的情况下,考虑到纸媒广告的持续滑坡状况,新剥离出来的公司7%的微薄利润率将迅速消失。
For the entertainment company, its overall profit margin will be higher without publishing. Its stock market valuation is expected to rise above that of News Corp.'s current valuation, analysts say, as the publishing assets are seen as a drag on the stock.
对于分拆出来的娱乐公司,在剥离了出版业务后,总利润率将会提高。分析人士说,预计该娱乐公司的市值将超过资讯集团目前的市值,因为出版资产已被视为对股价构成了拖累。
Moreover, without the taint of the phone-hacking scandal at News Corp.'s British newspapers, the entertainment company may have an easier time doing certain acquisitions, say people familiar with the situation.
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