Rupert Murdoch: Media Dug Its Own Hole


For those of us with a media/newspaper background, the following comments from Rupert Murdoch — whose company owns Fox News, Wall Street Journal and MySpace — are quite interesting. He basically claims the media’s condescension toward its readers paved the way for its sharp decline and the emergence of private blogs as news sources:

"It used to be that a handful of editors could decide what was news-and what was not. They acted as sort of demigods. If they ran a story, it became news. If they ignored an event, it never happened. Today editors are losing this power. The Internet, for example, provides access to thousands of new sources that cover things an editor might ignore. And if you aren’t satisfied with that, you can start up your own blog and cover and comment on the news yourself. Journalists like to think of themselves as watchdogs, but they haven’t always responded well when the public calls them to account."

To make his point, Murdoch criticized the media reaction after bloggers debunked a "60 Minutes" report by former CBS anchor, Dan Rather, that President Bush had evaded service during his days in the National Guard.

"Far from celebrating this citizen journalism, the establishment media reacted defensively. During an appearance on Fox News, a CBS executive attacked the bloggers in a statement that will go down in the annals of arrogance. ’60 Minutes,’ he said, was a professional organization with ‘multiple layers of checks and balances.’ By contrast, he dismissed the blogger as ‘a guy sitting in his living room in his pajamas writing.’ But eventually it was the guys sitting in their pajamas who forced Mr. Rather and his producer to resign …

Despite the blemishes, however, Murdoch said newspapers can still count on circulation gains "if papers provide readers with news they can trust." He added they will also need to embrace technology advances like RSS feeds and targeted e-mails. The challenge, according to Murdoch, will be to "use a newspaper’s brand while allowing readers to personalize the news for themselves-and then deliver it in the ways that they want."

"The newspaper, or a very close electronic cousin, will always be around. It may not be thrown on your front doorstep the way it is today. But the thud it makes as it lands will continue to echo around society and the world," he said. 

0 thoughts on “Rupert Murdoch: Media Dug Its Own Hole

  1. In another article, from the same conference, he talked about the broken business model. While he suggests some tools to help the newspaper industry he also does not hit the core of the loss of advertising revenue. How can you continue to hire great people if you don’t have the money to pay them? How do you garner ad revenue if someone “lifts” instead of links to your article? It will be fun to see what transpires. And if someone knows the answer, please sell it to the world so we can move beyond this stuff.

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