Murdoch bid to recoup Post losses with price hike - Press Gazette

Murdoch bid to recoup Post losses with price hike

The New York Post is doubling its newsstand price – from 25 cents to 50 cents, the equivalent these days of roughly 25p.

Raising the price is anticipated could help reduce the paper's losses which have been running at an estimated $70 million a year.

Rupert Murdoch has several times said that he has no plans – or even thoughts – of selling the paper because he believes that ultimately it will be financially successful.

Recently, the Post even claimed to have overtaken its big rival the New York Daily News — but at a price.

Its losses, it is said, have escalated as it has expanded sales to other cities, including Boston, Chicago and some parts of Florida and California.

At the same time it has also been offering subscriptions to readers willing to sign up for a year's home delivery at a cut-price rate of $13 a year – or about 5 cents a day.

Its total circulation as a result, it's claimed, has topped 700,000 making it the fifth largest newspaper in the US. The new street price goes into effect at the end of the month.

By comparison, The Daily News costs 50 cents on weekdays and $1 on Sundays. This a lot less that most other major US newspapers charge. The NY Times, for example, costs a dollar on weekdays and $3.50 on Sundays.