Rupert Murdoch has summoned his top news executives to his Californian ranch next week for a three-day meeting to plan a survival strategy for his global newspaper empire, according to a Financial Times report. It is said to be "the most in-depth meeting" Murdoch has hosted to address problems facing News Corp's newspapers.
Company watchers (love that phrase) said it was possible some executives might be shifted around as he strives to reverse the gloomy downward trend for his papers. A News Corp executive is quoted as saying: "All the news divisions will discuss where they are [online], what they are going to do, and where they want to get to."
The FT article reminds us that Murdoch made a landmark speech two years ago in which he spoke of the newspaper industry having been "remarkably, unaccountably complacent" in the face of the digital revolution. Since then, of course, he has embraced that revolution with growing enthusiasm - and by dipping deep into his piggy bank. He spent $580m (£290m) to buy the MySpace website and he has invested in online developments at his papers, particularly at his British titles, The Times and The Sun. But stimulating revenue from the net has proved less successful.
No-one could possibly suggest that News Corp's papers are facing imminent disaster, of course, but it shows just how fast things are changing when one of the world's largest media moguls feels it necessary to hold this kind of summit.
