Tuesday, July 3, 2007

Ace ex-Aussie Murdoch keeps cards close to his chest

Time's lengthy profile of Rupert Murdoch, 76, and the flattering set of black and white photos that accompany it online have raised some questions

What does a restless septuagenarian moving headlong into the digital age want with a somewhat beaten-down media property like Dow Jones, which over the years has misplayed some juicy opportunities to sell financial information in the digital world? Others may look at Dow Jones and see an excellent, world-renowned (though economically stagnant) print newspaper with a successful subscription-only website; Murdoch sees the engine of a global, interactive, multiplatform business-and-finance network that will drive his soon-to-be-launched Fox Business Channel, power up his 24-hour Sky News channel in Europe and fuel a still inchoate collection of online financial services. "We've got to lift our game tremendously," he says. "We'll sell our business news and information in print, we'll sell it to anyone who's got a cable system, and we'll sell it on the Web." Says News Corp. president Peter Chernin: "There are millions of people throughout the world joining the financial class, and the Journal is the premier financial brand. We have the size and international strength to monetize it globally."
This definitely is worth reading, even though you may not warm to the subject.

1 comment:

snapper said...

Murdoch's a canny bastard. Once when the Sunday Times staffers were going on strike to demand that Rupert remove Andrew Neil as much loated editor, the Aussie himself appeared at the NUJ chapel meeting, invited the strike leaders over to his Eaton Sq townhouse for a Scotch and charmed them into submission. The strike was averted and Andrew "Brillo-Pad" Neil had a long and rather dreary run as ST editor. Like I say, he's a canny bastard. Who can resist the flattery of a billionaire?