Blog Post

WPP’s Sorrell: News Corp.’s Internet Buys Are “Almost Willy-Nilly,” Driven By Panic

WPP CEO Martin Sorrell should stick to advertising. His comments about media internet strategy — particularly the recent moves by News Corp. — at an IAB conference in London today strike me as almost absurd or, at the very least, not well thought out. As Reuters reports, Sorrell singled out Rupert Murdoch and News Corp., describing the global media company’s recent internet acquisitions as “almost willy-nilly” driven by panic over declines in tradtional media audience and revenue. Sorrell: “I think there’s a certain amount of panic among media owners. Most of these companies, ours included I suppose, are run by 50- or 60-year-olds who have trouble getting it, and who really don’t want to see change on their watch.”
What’s happening at News Corp. — finally — is far from willy or nilly. Through FIM, the parent company has been going after key demographics, traffic building and growth opportunites that fit in with existing properties.