Friday, August 23, 2019

MURDOCH DETERMINED TO REVIVE HIS STRUGGLING NEWSPAPERS

May 29, 2013 by · Leave a Comment 

Rupert Murdoch

Rupert Murdoch suggested on Thursday that he’s exhilarated by the prospect of restarting News Corp as a stand-alone news operation. At a New York investors conference, he remarked “You may be wondering why I want to do it all over again. The simple answer is: there is opportunity everywhere.” Not too many other media moguls would likely agree that the newspaper business is any sort of land of opportunity, but Murdoch maintained that he sees it as “undervalued and underdeveloped.” (News Corp is being spun off from Murdoch’s entertainment business, which will now be called 21st Century Fox.) When Murdoch was asked whether he intends to pursue acquisitions of other newspapers, particularly any of those currently owned by Tribune Corp., he said hat if the “price is right” he might do so, although cross-ownership rules preventing companies from owning newspapers and broadcast stations in the same market would make such acquisitions “pretty unlikely.” The response may have raised some eyebrows, since 21st Century, which won’t own any newspapers after the split-up, would be the entity acquiring the stations.