A good article in TheStreet by Simon Constable talks about how Rupert Murdoch is good for the newspaper business, as he offers up "vigorous competition," which should make the industry even better. Constable goes on to say it's really what the industry needs at this time.
When you consider how the Fox Channel has helped shape, invigorate and challenge the powers that be at the time, it may bode well for the overall newspaper industry.
What Rupert Murdoch brings to the table is the ability to see what the customer wants, and what is being underreported and underserved. That's why his Fox cable channel dominates the competition, as the redundancy of the offerings made each one pretty much the copy of another, as they rushed to say the same thing about the same story. That's also a big problem in the newspaper industry; one of a number of reasons it's struggling so much now.
Obviously the ability to get news on the Web when you want and how you want has something to do with it, but that's not the entire story by far.
While consumer habits are definitely changing, a major reason they're changing is also on the lack of innovation and the continuing on of papers like the New York Times (NYT), which try to promote agendas rather than report the news. It's not that people have quit reading, as some in the U.S. assert, rather it's the lack of quality stories and the promotion of ideology that gets a lot of people tired of what newspapers offer.
A major reason so many people hate Rupert Murdoch isn't because he takes quality - in some cases - and then brings it lowbrow, rather it's that he understands what the market wants, and everything he gets his hands into usually works after a period of time. In other words, he's a tremendous competitor, and those offering agendas either have to adapt or lose tremendous circulation or viewership if they want to compete. They resent having to do that; the reason they give all sorts of disingenuous reasons why Murdoch is the equivalent of the devil in their respective industries.
In the end, Rupert Murdoch knows how to profitably run his media empire, and has the solid long-term mentality that few are willing or able to maintain while growing a company. Rather than sit around moping about the old days of profits, he's continuing to innovate and try different things like he is with The Wall Street Journal, which he's grooming to take on the New York Times, which will either make the Times a better newspaper, or an irrelevant blip and anomaly in the business.
As Carew says, "The Times is going to have to give up its agenda and start reporting some news. People want to know what's happening in the world and you don't get that in the Times."
Murdoch will be more than glad to offer that at a profit. No matter what anyone says, a business must first be profitable before it can have anything to say. Murdoch understands that and is building his media empire around what the customer wants at a profitable price. Those that are wise will follow in his footsteps.
Rupert Murdoch is good for the newspaper and media industry as it forces them to adapt and become better ... or perish.
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