Murdoch: My papers will recover after a year or three

Rupert Murdoch says his UK newspapers will lose money ‘for a year or three’ but emerge from the recession stronger, and with a bigger market share.

Although Murdoch admitted: “I never thought it would get this bad.”

The Times and The Sunday Times have lost nearly £1m a week between them in the year ending June 2008, a 16.7 per cent greater pre-tax loss compared with 2006-07.

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