Skip to: Content
Skip to: Site Navigation
Skip to: Search

May 17, 2008 1:44:01 AM CDT

Learn about Newser Points »

Back to the grid

Murdoch 'More Pessimistic' About Economy  

Posted Mar 11, 08 4:35 AM CDT in World,  Business    Most Covered

(newser) – The last month has made media boss Rupert Murdoch "a lot more pessimistic" about the outlook for the US economy, Reuters reports. Ad revenue is below expectations at his TV stations and newspapers and he expects "a temporary downturn for a year or so" at Dow Jones, the News Corp. boss told a media conference yesterday. It's the strongest public statement  yet among top media leaders concerning fears about a pending advertising recession.

Murdoch tempered his bearish predictions for advertising by noting that News Corp. is insulated against a downturn, having reduced reliance on ad revenue from 41% to 23%. He repeated his ambition to make Dow Jones and the Wall Street Journal the world's leading news source. Murdoch also made it plain that he wasn't interested in fighting Microsoft to acquire Yahoo.

Source Reuters

open commentscomments (0)

Editor Recommended

Murdoch says he won't bid for Yahoo
San Francisco Chronicle | Mar 11, 08

Murdoch's remarks recapped
Silicon Alley Insider | Mar 10, 08

Expanding Dow Jones buys Dutch newswire
Reuters | Mar 10, 08

Related News

  • Journal Staff Uneasy as Murdoch Era Rolls On

    May 9, 08 10:59 AM CDT
    Journal Staff Uneasy as Murdoch Era Rolls On Tensions are running high in the Wall Street Journal’s newsroom, the New Republic reports, as staffers wonder just where this Murdoch thing is going. Managing editor Marcus Brauchli’s resignation still hangs heavy in the air. Murdoch pushed Brauchli to resign, and paid him millions to sign a non-disclosure agreement. “We're a business newspaper, so we know a sell-out when we see one,” one angry staffer said. More »

  • WSJ Oversight Panel Slams Editor's Ouster

    Apr 29, 08 5:53 PM CDT
    WSJ Oversight Panel Slams Editor's Ouster A committee formed to protect the editorial independence of the Wall Street Journal from Rupert Murdoch’s influence said today the solicited resignation of managing editor Macrus Brauchli violated an agreement with Murdoch's News Corporation, Reuters reports. The committee is supposed to review all high-level hirings and firings, but, as Brauchli opted to resign, it learned of his ouster only after the fact. More »

  • Exiting Journal Editor Was Stuck Between Rupe and 'DNA'

    Apr 23, 08 2:07 PM CDT
    Exiting Journal Editor Was Stuck Between Rupe and 'DNA' Continuing to report on the aftershocks of its own takeover, the Wall Street Journal does a postmortem on the departure of top editor Marcus Brauchli, detailing his uncomfortable position between a demanding new owner and the paper's institutional “DNA.” Rupert Murdoch wanted to build a direct competitor to the New York Times, with more general news and shorter stories, and felt the managing editor was holding up the overhaul. More »

  • Read All About It: Journal Posts 'Help Wanted' Sign

    Apr 22, 08 3:18 PM CDT
    Read All About It: Journal Posts 'Help Wanted' Sign After Marcus Brauchli officially resigned as managing editor of the Wall Street Journal this afternoon, the paper said it will "begin a search for Mr. Brauchli's replacement immediately." That may prove difficult: Brauchli, who will remain with News Corp. as a consultant,   wasn't given the control over the paper he felt management had promised, the New York Times reports. More »

  • Top Editor Bails on Journal

    Apr 22, 08 9:54 AM CDT
    Top Editor Bails on Journal Four months into the Rupert Murdoch era, the Wall Street Journal’s managing editor is resigning. Marcus Brauchli, in the job since May, has tried to chart a path between Murdoch and the paper’s traditionalists, sources told Time, which broke the story on its website. The split is said to be amicable, and Brauchli is likely to take another post with the company. More »

Murdoch 'More Pessimistic' About Economy
Rupert Murdoch, Chairman and Chief Executive Officer News Corporation, USA, speaks during a panel session on the second day of the Annual Meeting of the World Economic Forum, in this file photo. Murdoch...   (Associated Press)
Murdoch 'More Pessimistic' About Economy
Rupert Murdoch, who controls global media conglomerate News Corp., speaks at a news conference in New York in this file photo. Murdoch yesterday told a media conference that he expects a downturn "of...   (Associated Press)
Murdoch 'More Pessimistic' About Economy
News Corp's headquarters is shown on July 31, 2007 in New York. Chairman Rupert Murdoch said yesterday that he planned to shape recent News Corp acquisition Dow Jones into the world's leading news source....   (Associated Press)
prev   next
play

Threads (1 of 2)

Tags

Microsoft  • Yahoo  • recession  • Dow Jones  • Rupert Murdoch  • advertising  • News Corp  • Wall Street Journal  • Fox Entertainment Group


Loading...

Loading...

Related Threads: Rupert Murdoch, Is It Recession?

Next story from this section »

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »