Monday, September 27, 2021

MURDOCH PREDICTS MORE VIDEO IN YOUR NEWSPAPERS

April 10, 2014 by · Leave a Comment 

Although Rupert Murdoch’s News Corp has split into two separate entities — 21st Century Fox, which focuses on Murdoch’s entertainment properties, and the new News Corp, which focuses on his newspaper and publishing businesses — Murdoch envisions the two companies converging in some areas. “In London our digital [newspapers] includes video,” he said in a lengthy interview with Fortune magazine. Noting that his 21st Century Fox has bought video rights to the Premier (soccer) League, Murdoch observed, “Now if you look at the London Times, you’ll find that with quite a number of the photographs, you touch them and they turn into videos. I think newspapers come alive that way.” His newspapers are no long “papers,” he said. “We should cut out the word ‘paper,’ you know. It’s ‘news organizations.’ ” Murdoch acknowledged, however, that his company’s efforts in the realm of digital content have sometimes misfired on a grand scale. Early on, he bought the original Delphi Internet Service, which quickly foundered. In 2005, he bought the original social network MySpace for $580 million, which he ultimately sold to Specific Media and Justin Timberlake for $35 million in 2011. The website, he said, was mishandled by executives at 20th Century Fox. “If they weren’t happy with the people running it, they should have gone and hired Mark Zuckerberg or someone like him, all right?” In fact, said Murdoch, he did indeed meet with Zuckerberg shortly after he bought MySpace. “I remember Mark coming down to visit my ranch. He was a very shy, quiet young man of about 20 or 21. And he was all for us getting together. And I didn’t take him up on it.” As for Facebook, he said, “I think he’s done a brilliant job.” Murdoch himself has become the only major media mogul who regularly posts comments on Twitter. However, he concedes, “My family are horrified that I’m on it. They think it’s ridiculous. And people like [News Corp. CEO] Robert Thomson have said, “No, it’s extremely good personal public relations to show you’re interested in more than just making money.”