Murdoch’s Web strategy is proof of his genius

BusinessWeek has a must-read summary of Rupert Murdoch’s vision of bringing his Fox media empire into the 21st century, and I have to admit that he’s right on the money. You can say all you want about the guy, but he’s generally managed to make the right moves when it comes to business, and this is no different. Every television station management group needs to burn these paragraphs into their minds:

“There is no greater priority for the company today than to meaningfully and profitably expand its Internet presence and to properly position ourselves from the explosion in broadband usage that we’re now starting to see,” Murdoch said.

…During his conference call with investors, Murdoch explained his desire to create “an original type of portal.” As technology improves and users become more sophisticated, they won’t need portals such as AOL, MSN, or Yahoo to navigate the Web. Already, they’re able to find their own way around, using increasingly powerful search engines to locate what they want. The key will be allowing users to customize their experience of the Web, drawing on the vast resources of News Corp. and the Internet at large.

“Our strategy is quite simple,” Murdoch said. “News Corp. at its core is about content. The Web at its core is about personal choice. What we are aiming to do is combine the two, and in the process redefine the meaning of [an] Internet vertical.”

Somebody smart has gotten the ear of Rupert Murdoch. He doesn’t speak like a broadcaster in this story. The understanding demonstrated here is refreshingly new media, and I predict he will succeed where others will fail. His recent purchase of the popular social networking site MySpace is just the beginning.

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