He may be the world’s most successful newspaper man, with a history of outsized reach and profits (though, now, fading) in Australia and the UK, but here, in the US newspaper business, he’s only ever been a dud.
Wolff points out that the New York Post – “a vanity project” – has lost loads of money. As for the Wall Street Journal, it “seems headed in the direction of the Post: a product divorced from financial reality, on target to absorb historic losses.”
Then he turns to Murdoch’s new media initiatives, writing that he “has never succeeded in any digital venture he’s managed. Never. Not once.”
After dissing Murdoch’s new wheeze – a digital newspaper for the iPad – he then asks: “Why is Rupert Murdoch, the ceo and chairman of a more than $30 billion diversified media company, spending so much of his time worrying about a business
This article originally appeared in Â© Guardian News & Media Ltd..