The Wall Street Journal has published an edited version of an interview it conducted with Rupert Murdoch a week ago. It is a wide ranging interview, a compelling insight into the most important newspaper proprietor in Australia. He loves newspapers:
I’ve been a newspaper person since I was a baby, practically. I found it riveting. I just love newspapers, and that’s not any exaggeration. And the frustration of my life has been as the company has grown bigger, and we’ve taken opportunities, I’ve had less time to pay any detailed attention to them.
He also understands the challenges:
And I think we’ve got to pour some money into digital. We’ve got to do a lot of things there… There’s so much going on on the Internet. We’ve got to find new ways and new business models to get revenues. Or else the world is going to be owned by Google.
And then…
The Internet is a great leveler. All newspapers count for less these days. So … as far as I’m concerned, I want to drive News Corp., as I’ve said, into being the greatest content company, whether it’s in news, opinions, writing or whether it be film or television. I mean there are so many new pipes in how you deliver these things.
This interview ought to be read by newsagents as a challenge or a road map (of sorts) if you will. Publishers are more interested in what is happening online than in print. It’s where the revenue growth is. It can be for newsagents too but for us to unlock that we need to be an insightful as Rupert Murdoch on these things.