“After all of these years of investment, it would really behoove them to show some wins,” said Tim Nollen, an analyst at Macquarie Capital USA in New York who has a “neutral” rating on News Corp. shares. “So far, I haven’t seen any.”
Joel Klein, Amplify’s chief executive officer, said he always considered the company a long-term bet. “I wish that things would move more quickly,” said Klein, the former New York City schools chancellor under Mayor Michael Bloomberg. “But when these things move quickly, sometimes you wind up creating a lot more problems.” (Bloomberg is the founder and majority owner of Bloomberg LP, which competes with News Corp. in delivering financial news.)
Technology often takes longer to implement than expected, but the changes, too are larger than originally thought.