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...could almost hear the sighs of relief in the hushed, thickly carpeted corridors of high-powered media executives on Aug. 6, when News Corp. chairman and managing director Rupert Murdoch announced that he was going to start charging for online news content by July 2010. At last, they exulted, somebody was jumping in and demanding that consumers pay for a product that has been given away for nothing on the Web. And even better, that somebody was not them...
...simply cannibalizing its ability to produce good reporting," Murdoch said during a call with analysts and reporters. The Wall Street Journal, which he owns, is one of the very few news operations to charge users to see its content online. Now he wants to put all his sites - News Corp. is the biggest producer of news in the English-speaking world - behind a pay wall. That includes the online output of papers that run the spectrum of quality all the way from the snobby Times of London to the grubby New York Post, not to mention broadcaster Fox News Channel...
Despite the fact that, in Web time, July 2010 is an eternity from now, Murdoch clearly felt the need to do something quick. He made the announcement while discussing News Corp.'s dire year-end results: his empire took a stinging $203 million loss in the fourth quarter, and operating income was down 30% for the year. All in all, the company swung from a $5.34 billion profit the year before to a $3.38 billion loss in the fiscal year that just ended. Murdoch cares little for Wall Street, but he knows his investors need to have confidence that...
...hopes. One of the few growth areas among News Corp.'s crops were the Fox cable channels, particularly FNC, which showed a 50% rise in operating income. FNC's head, Roger Ailes, with whom Murdoch has clashed before, is likely to oppose any switch to an online fee model. It would be commercial suicide for FoxNews.com to charge for content until CNN.com and MSNBC.com do. And even if - and it's a big if - most major news websites were to follow Fox's lead, the BBC wouldn't, because it's not supposed to make money...
Murdoch, Rupert • posting of $3.4 billion loss by News Corp. prompts announcement by of intention of to charge for all online content controlled...