I'm not fully across the share market and all that stuff, however whilst News is the majority shareholder they dont hold 100% of the shares.
They might be happy to sit back and watch revenues, etc. drop and not really care, but Joe Blog with 10% or the other minor shareholders wont be all that keen to sit back and watch the annual reviews come in with dropping margins, at which point they'll sell.
Selling of the stock leads to dropping of the share price and all of a sudden News have to start looking at whether they bother keeping a hold of the ownership if it starts costing them money instead of being profitable and looking after itself.