Analysts predict either News Corp expansion or withdrawal from UK newspaper industry following BSkyB takeover decision
News Corporation will either expand its newspaper presence or retreat from the market altogether having decided to withdraw from its takeover of BSkyB, analysts have predicts.
The closure of the News of the World is also likely to see the national press decline by 1.8 million copies a week, research claims, although its closest competitors are likely to gain from its disappearance.
According to Enders, the national press will fall by 1.8 million copies, taking it to half the number of Sunday newspapers sold in 2000.
It also highlights the Mail on Sunday and Sunday Mirror as being likely to pick up 30% and 20% respectively, however with the decision by News Corp. to withdraw its takeover bid of BSkyB today, it will either expand its present through the Sun on Sunday, or it will retreat from the UK newspaper market altogether.
News International, owned by News Corp. has already filed the name The Sun on Sunday with Companies House and bought the domain name for an online presence for the, as yet unannounced, Sunday newspaper which is expected to replace the News of the World.
Earlier today, News Corp. announced its decision not to continue with its bid to takeover BSkyB as a result of negative feeling surrounding the company following the News of the World scandal.
At the time of writing, Rupert Murdoch, alongside son James Murdoch and chief executive of News International Rebekah Brooks had missed the deadline for responding to a request for them to attend questioning by one of the investigations into the scandal.
Brooks, being a UK citizen is likely to be compelled to attend should she not willingly choose to do so, where she will be questioned about her leadership, as well as her time as editor of the News of the World, during which, murdered schoolgirl Milly Dowler’s phone is discovered to have been hacked by an employee, and voicemails deleted.
Earlier today, Prime Minister David Cameron described the scandal as 'a firestorm' and voiced his approval that the takeover bid had been withdrawen.