London Times Loses 90% of Readers - The Daily Beast Rupert Murdoch, who famously bought the London Times in 1981 in a "calculated gesture of bravado and mischief," may have miscalculated. Owning The Sun and News of the World had brought him profit but much woe, according to veteran journo Simon Jenkins.
Buying The Times, then in desperate straits, would infuriate his enemies, raise his world profile and dilute his image as a vulgarian.Given the dire state of the newspaper industry, it could not conceivably make money. Fifty offers were received by Thomson but none was related to the paper’s (negative) value. An anti- Establishment owner would have bought The Times to get The Sunday Times, and closed it. Murdoch did not.
Whether it can make money from the pay wall remains to be seen. Murdoch is stubborn, though.