Media tycoon Rupert Murdoch has stumbled before. But never as badly as he has in the past few years. He might be done.
Digital may not be his space. In fact, his purchase of MySpace was a bomb. And as David Carr reports in THE NEW YORK TIMES, Murdoch's baby News Corporation hasn't been doing so hot. My hunch: Murdoch may not know how to make money in this brave new world of media mashups: Print, digital, video, audio, and in-person.
For 4Q, notes Carr, News Corp's "operating income, adjusted for certain items, dropped more than 30 percent and after taking $680 million in charges, mainly from the unit that houses MySpace, the company reported a net loss of $203 million."
Carr speculates that Murdoch might have recently announced he will be charging online for all content in order to deflect attention from the lousy earnings. Will Murdoch leave with dignity? Or will he keep trying to prove he remains a mover and shaker in media? Too bad, like Johnny Carson, he didn't exit when he was on top.