Rupert Murdoch can see all-digital N.Y. Post in 10 years - report

Thu Apr 10, 2014 8:10pm IST

Rupert Murdoch, the chairman of News Corp and 21st Century Fox, arrives at New York State Supreme Court with his lawyers in New York, November 20, 2013. REUTERS/Brendan McDermid/Files

Rupert Murdoch, the chairman of News Corp and 21st Century Fox, arrives at New York State Supreme Court with his lawyers in New York, November 20, 2013.

Credit: Reuters/Brendan McDermid/Files

Related Topics

Stocks

   

REUTERS - Media mogul Rupert Murdoch can envision his tabloid newspaper the New York Post as an all-digital publication in 10 years, he said during an interview with Fortune magazine published on Thursday.

Murdoch, the chairman of News Corp (NWSA.O) and 21st Century Fox (FOXA.O), acknowledged that the paper lost $40 million in 2012, hit by declines in advertising revenue.

"We're looking at various plans for the Post. We are working very hard on the digital edition," he said.

Murdoch gives the Wall Street Journal, which he purchased in 2007, at least 20 years before it goes all-digital.

It was Murdoch's first extensive interview since 2009. He has since divided his media empire, divorced his third wife, dealt with the fallout of the phone hacking scandal that roiled his British newspapers, and started to put in place a plan for succession that includes his two sons, James and Lachlan. (here)

When asked whether his daughter Elisabeth will get involved in the business again, he said, "It's more than possible. That's all I will say."

Murdoch discussed a range of topics, including News Corp's$600 million purchase of social networking site MySpace - "that was one of our great screwups of all time;" two or more "Avatar" film sequels; and his active tweeting ("My family are horrified that I'm on it.")

On DJX, the ambitious project that bundled its Dow Jones products to compete with Bloomberg LP and Thomson Reuters (TRI.TO) (TRI.N), Murdoch said the concept was correct but admitted it alienated customers, particularly those of news database Factiva.

Murdoch said that he could live with Democrat Hilary Clinton as the next president of the United States. He said Jeb Bush and Paul Ryan were potential Republican presidential candidates that he admires.

(Reporting by Jennifer Saba in New York; Editing by Jonathan Oatis)

FILED UNDER:

REUTERS SHOWCASE

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Article 

Indians in Iraq

Indians in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Test Match Postponed

Test Match Postponed

First test against India postponed after death of Hughes  Full Article | Related Story 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Banking Sector

Banking Sector

After record deal, more India bank takeovers on cards  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Nigeria Violence

Nigeria Violence

Bombs, gunfire kill 81 at crowded mosque in Nigeria's Kano  Full Article 

Movie Review

Movie Review

D’Silva's “Ungli” just skims the surface  Full Article | Related Story 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage