• Hollywood Reporter, Wednesday, January 11, 2006 10:45 AM

Boasting that News Corp. owns "the greatest content collection in the world," its leader, Rupert Murdoch, yesterday told a gathering of analysts that his company was looking to expand and deepen its commitment to Web-based businesses. Murdoch predicted News Corp. would produce $350-$400 in Web revenues next year. "We love hearing about all these new [technology] gizmos. We'll be in all of them," Murdoch said. "They are useless without anything on them." He said News Corp.'s filmed entertainment division--Twentieth Century Fox--might well proceed aggressively into Web distribution, particularly for low-budget movies. Offering such films to audiences for $3 or $4 per viewing, when there is no simultaneous theatrical release, can yield very handsome profits, Murdoch told the analysts.

Read the whole story at Hollywood Reporter »