The Sun losses exceed £60m as ad slump and hacking charges take toll

The Sun made a loss of more than £60m last year as steep declines in print advertising, redundancy costs and phone-hacking charges battered the tabloid. Its stablemate the Times also slipped into the red, reporting a pretax loss of £5m in the year to 3 July, down from a profit of £8.8m in 2015, in part due to racking up £13.7m in redundancy restructuring costs. The Sun fared significantly worse, notching up a pretax loss of £62.8m for the same period last year, according to accounts filed at Companies House for its parent company News Group Newspapers.
Read more: https://www.theguardian.com/media/2017/jan/05/the-sun-losses-advertising-hacking-charges-profits-revenues?source=Snapzu