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Murdoch Discusses News Corp.'s Digital Future

In an interview with the Hollywood Reporter, media visionary and News Corp. King Rupert Murdoch discusses how his massive corporation is molding itself to the challenges and opportunities of the digital age. Murdoch, 74, calls the Internet "the most fundamental change in my lifetime and for hundreds of years," because it empowers everyone to consume and create whatever they want. He says MySpace.com, News Corp.'s recent acquisition, is the quintessential example of this phenomenon, and that the company will now be uniquely focused on ways to reach consumers via the Web. Advertising, he says, will "absolutely" be the business model for content providers, not paid subscription--except in special circumstances--and ordinary people will continue to find ways of generating transactions on sites and getting a share of the business.

Read the whole story at The Hollywood Reporter »

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