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Murdoch aims to defy naysayers with new News Corp

Rupert Murdoch is still trying to convince Wall Street money in the newspaper on Tuesday, reminding investors that he had defied the skeptics in the past 60 years to establish one of the world's largest media empire.
News Corporation (News Corp) ready publishing business separate from its entertainment assets, Murdoch said, while others are brand faces a personal challenge, publishing portfolio as a whole "is undervalued and underdeveloped."
"I'm not saying I did not make a lot of mistakes along the way, and even some spectacular," Murdoch said at a meeting in Manhattan to sell investors on the new publishing company.
"You may be wondering why I want to do it again," said the 82-year-old media mogul said. "The simplest answer is: there is everywhere."
The new publishing company, will retain the News Corporation (News Corp) name in the June 28 kicked off the property, such as: "The Wall Street Journal," Dow Jones Newswires, London "Times", Australia's pay-TV services, book publisher Harper Collins and fledgling education unit, amplified.
Spin it comes to newspaper advertising revenue facing more and more like diving and readers get free news, their smart phone and tablet. Newspaper companies - once considered a blue chip investment - shares fell sharply in the past decade, as investors worried about permanent loss of advertising sales.
In this context, the publication of the company's new CEO Robert Thomson said there will be "relentless" in the store business to cut costs. He did not specify.
News Corporation (News Corp) publishing executives took pains to almost half of the company's revenue comes from sources other than advertising. A source of income is the Dow Jones, selling news and information, financial institutions and with Thomson Reuters and Bloomberg competition.
Dow Jones CEO Lex Fenwick stressed the introduction of a new platform, code-named DJ ten, he emphasized that a product, a price and a standard contract.
"If we can take a little more institutions flowers and DJ X - If we offer products with real value, there is a real opportunity to increase our market share," he said.
Domain also said that the Dow Jones Bloomberg proud product competition on the SMS platform work.
Clean Balance Sheet
Thomson, faith close to Murdoch, ensure that the new publishing company will start with a clean balance sheet, no debt, and $ 200 million U.S. dollars in cash buffer operations and attract investors. News Corporation (News Corp) proposed dividend, the Board has yet to determine the details. It said it has approved a stock repurchase program, $ 500 million.
Still, analysts wonder if Murdoch going to go shopping, he coffers of cash, especially in, the newspaper assets - including Los Angeles Times "and" Chicago Tribune "on the market.
Murdoch said that if the "price is right" News Corporation (News Corp) in the newspaper might be interested. But he said the cross-ownership rules that prevent companies in the same market with the top of the television stations and newspapers of the "possibility is very small."
News Corporation (News Corp) said on Friday it would write down its assets in Australia and the United States published the value reached $ 1.4 billion, it is possible to eliminate the company estimates as of June 30 quarterly profit.
Thomson said the company will have a "permanent startup sensibility." He added, "We will mercilessly cut down on our costs and our pursuit of profit."
New News Corporation (News Corp) also released its logo - written in cursive handwriting on the basis of Murdoch and his father, Keith, Australian newspaper media empire seeds.
Fox network, will become an independent company known as the 21st Century Fox movie studio and a lucrative cable characteristics.
"I have given most of the people in their lives never get a rare opportunity: the chance to do it again," Murdoch said.
 
 



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