Sitting across from his employees and writers Walt Mossberg and Kara Swisher at the D6 conference, News Corp. mogul Rupert Murdoch shared his view on newspaper editing.
"A Wall Street Journal story is touched or edited by 8.5 people, and the story gets longer and longer, and people don't have time for that," he said. "There is not a story you can't get in half the space."
If the whole Wall Street Journal were like Mossberg's column, Murdoch said he would be a happy man, getting some big laughs from the D6 crowd. The 77-year-old media mogul understands the shortening attention span of the planet.
Murdoch apparently isn't fond of journalism prizes. "Stop having people write articles to win Pulitzer Prizes--give readers something they want to read."
Rupert Murdoch said at the D6 conference that Fox News is neutral, fair and balanced. Walt Mossberg's response: It has both sides, but it beats the crap out of one side. Murdoch also said he would hire a liberal commentator, but they are really hard to find. He admitted that for his network, it is more fun to make fun of liberals than conservatives.
(Credit: Dan Farber/CNET News.com)Murdoch: Obama will likely defeat McCain
The conservative Murdoch said it's likely that Obama will defeat McCain in the November presidential election. Politicians are despised by 80 percent of the population, and Obama is trying to put himself above it all, Murdoch said.
The tide is against the Republicans, and Obama could overcome the race issue. McCain, Murdoch said, is a friend, patriot, and decent guy, though he conceded also that he is unpredictable, has spent too much time in Washington, and is not great on the economy (which he said is in a recession) or organizationally adept.
Swisher asked Murdoch whom he would vote for, but the cagey Murdoch said he hasn't made up his mind. He said Obama would never give Hillary Clinton the vice presidential job and would want to distance himself from the Clintons. Murdoch described Obama as a "highly intellectual man" and said he wants to meet the candidate. He likes his plan to fix the U.S. educational system, which he called a total disgrace. "I want to know if he's going to walk the walk."
Murdoch predicted that the States will face an international crisis, such as with Iran, that will test out the candidates.
Mossberg asked Murdoch if he had anything to do with the New York Post's endorsement of Obama. Murdoch simply said, "Yes." It's not often that you hear that kind of honesty.
Murdoch believes that a way to solve the energy crisis more immediately than investing in alternative-energy sources such as nuclear, solar and wind power, is to drill for oil off the American West Coast and Alaska. The country "didn't buy Alaska to save a few elk," he said.
Among all the industry titans speaking at D6, the News Corp. chief was the sharpest, though Sony CEO Howard Stringer was the funniest.
Murdoch also revealed the secret to his persistence and success. "I'll keep going, as long as I have my curiosity and thirst for risk."
Click here for full coverage of the D: All Things Digital conference.
(Credit:
Artwork: Susan Dove)
I never thought that Microsoft's unsolicited bid for Yahoo could get so interesting. It's taking on Shakespearian dimensions, with various factions lobbying, forming alliances, and establishing dowries for Yahoo's favor. In addition, News Corp. may be lending aid to Microsoft in its quest to acquire Yahoo.
Over the weekend, Steve Ballmer gave Jerry Yang three weeks to capitulate, or Microsoft would take its case directly to Yahoo shareholders. Today, 69 days into the negotiations and posturing, with Microsoft seemingly in the driver's seat, prognosticators are scratching their heads.
Yahoo and AOL are reportedly in deep talks to join forces. Also note that the Time Warner unit recently acquired the social-networking site Bebo.
According to The Wall Street Journal:
Under the terms being discussed between Yahoo and Time Warner, the latter would fold its AOL unit into Yahoo and make a cash investment in return for about 20 percent of the combined entity, people familiar with the situation said.
The deal, which wouldn't include AOL's dial-up access business, would value AOL at about $10 billion. As part of the deal, Yahoo would use the Time Warner cash and additional funds to buy back several billion dollars worth of its own stock at a price somewhere in the middle of the range, between $30 and $40 a share, the people said.
Yahoo is also testing the use of Google ads on a small percentage of its search pages. This could lead Yahoo to outsource its core ad search business to Google. As you might recall, Google and AOL have a connection. Google invested $1 billion in AOL in 2005 for a 5 percent stake, and it powers AOL search.
Rafat Ali of PaidContent said AOL and Google working together could help Yahoo stay independent:
If Yahoo can logically show that it gets a 30 percent to 40 percent revenue lift on the test, then they have a story to tell--that, if combined with AOL, they have enough scale, cut down costs by outsourcing search and search ads to Google, and add to that a possible share buyback with Time Warner supplying the extra cash, the combination has earned the right to stay independent.
At the same time, The New York Times is reporting that News Corp. (and its MySpace.com) may be considering throwing in with Microsoft to help acquire Yahoo.
The question for Yahoo shareholders will be which deal is best. AOL needs to find a home, and the combined AOL-Yahoo user base would be large. Getting leverage from the two audiences presents similar problems and overlapping to that of an MSN-Yahoo combination.
(Credit:
comScore)
Google would benefit by the Microsoft block, its AOL relationship, and potentially a partnership with Yahoo, which would mean that Google is the big winner. Microsoft would be the big loser, if it doesn't succeed in acquiring Yahoo. Of course, the antitrust regulators might have a say in the matter.
In some ways, Yahoo could be a loser as well, in that Microsoft would technically and financially be a stronger mate than AOL, especially in battling Google over the long-term.
Given all the recent activity, Yahoo's fate is less clear than when Microsoft was the only option. Perhaps, Yahoo has created an elaborate illusion to convince Microsoft to increase its bid.
We may find out soon whether AOL is really an alternative to Microsoft for Yahoo, and salvation for Time Warner, and whether Rupert Murdoch wants to get in bed with Microsoft. What we know, at this point, is that Jerry Yang is not saying, "Alas, poor Yorick."
- prev
- 1
- next
