News Corp joined other public companies in issuing a formal notice to investors that the COVID-19 pandemic “is expected to adversely affect the Company’s business and results of operations,” detailing the negative impact across its businesses. At HarperCollins, “Sales are expected to be adversely affected by shipping restrictions and delays imposed by online retailers, as well as closures of brick-and-mortar retail stores.” Those declines are mitigated in part by “an increase in sales of digital formats of its titles.” The company advises that it is “implementing cost-savings initiatives company-wide,” without providing any further details on pay cuts, furloughs or other […]
