Rupert Murdock Admits the Newspaper Business is "Malfunctioning"

You constantly hear of declining newspaper circulations, now Rupert Murdock the News Corp Chairman and Chief Executive admits, “There is no doubt the traditional newspaper business model has to change”.

Murdock went on to say the ‘malfunctioning’ newspaper business had to change, and his company plans to start charging readers to access content on its web sites.

These comments were on the back of News Corp’s report of it’s newspaper segment posting a 97 per cent drop in its third quarter operating profit.

Source: The Townsville Bulletin, Friday, May 8, 2009