Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- News Corp. (NWSA) Chief Executive Rupert Murdoch said Thursday that the globalization of media presents opportunities for the industry even as it navigates the uncertainties posed by the rise of digital media.
"Our aim must be to enhance the lives of our customers and citizens, and yet we find ourselves in the midst of an information revolution that is both exciting and unsettling," Murdoch said in videotaped remarks promoting an upcoming media industry conference that will take place in Abu Dhabi.
"It is a digital revolution turning traditional business models upside down; traversing geographic, industrial, and media boundaries; and creating a new source of wealth, material and social, around the world," said Murdoch, whose company has operations on every continent across all media platforms.
Murdoch's comments came from a transcript of the video.
The Abu Dhabi Media Summit will take place in March 2010, and attendees will include Murdoch, Microsoft Corp. (MSFT) Chief Executive Steve Ballmer and AOL Chief Executive Tim Armstrong.
Murdoch noted that in emerging economies, like India and China, hundreds of millions of people are entering the middle class and becoming consumers of news and entertainment.
"Abu Dhabi sits at the nexus--of East and West, of developing and developed, of our media present and our future," he said.
-By Nat Worden, Dow Jones Newswires; 212-416-2472; nat.worden@dowjones.com
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Comment: Has Murdoch completely taken leave of his senses? "Our aim must be to enhance the lives of our customers and citizens" - how the hell does the fascist, rabid, mostly fictional propaganda of the Fox network fit that agenda, exactly?
The old man's losing it - first picking a fight with Google and threatening to remove all News Corp products from Google's indexes (threatening, but never actually doing it), then imagining that anyone in their right mind would pay for the garbage that's published on the Sun web site (but then again, we are talking about Sun readers) - but mostly because he failed to buy Blinkx when he had the chance. He could have picked it up for 3 or 4 times its current market cap (say, £200m) - less than he paid for MySpace, but whereas there he bought a moribund social networking site that was already being surpassed by Facebook, in Blinkx he could have bought a video search/media company that is excploding its revenues and, with the right (new) management in place could explode its profits too...
Not so smart after all, eh Rupert?
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