In danger of becoming the forgotten man of the Murdoch family after stepping down as a senior News Corp (NYSE: NWS) executive in 2005, Lachlan Murdoch is keen to tell the world he's still there and still interested in media investments. Once third-in-charge at NWS and thought of as heir-apparent to father Rupert's empire, he's since been overtaken by younger brother James, who last year was promoted to chairman and CEO of News in Europe and Asia. But he's full of fighting talk in an interview with News Corp.'s The Australian, a paper he once ran, to celebrate 10 years of its media section, which he launched.
He thinks Aussie papers are among the best in the world, but Lachlan doesn't quite know how to solve the problem of classified advertising dropping 50 percent to 60 percent this yearor how to make online pay. For him, perhaps not surprisingly, the best online model is the News Corp-owned Wall Street Journal"all newspapers have struggled aside from that." Echoing what many newspaper executives think about the rise of free news, he worries that "consumers have now got used to that, so it's difficult to get people to pay, and that's what we have toas an industrycorrect." For detail on his media- investment strategy, see full story on sister site paidContent:UK
By Patrick Smith