Murdoch on the Future of Newspapers

" Will -- be newspapers. Of course how they look. -- make money from newspapers and five to ten years. The -- we made a way to make him now I think from our readers from our advertisers. And they newspapers but may look very different. Instead of a an analog paper printing them -- You may get it on -- You know I panel. We should be. My bottle which will receive the whole news that by the via. The updated every narrative. Policeman's. A possible. That some of the credit to electronic companies in the world. A working on this for I think it took three years away before they get introduced. In a big way and then it'll probably take ten years from. Fifteen years for them out because when."

" We've demonstrated yesterday we had plastic logic the CEOs making what the readers -- you think. In ten to fifteen years it is sincerely say yeah possible that we early days yet the times has to. Improve at a -- rankings. Everybody's -- about the sense that the development but that some very interesting developments here's what I don't understand about the newspaper industry if if I'm a subscriber to The Wall Street Journal and you got international subscribers an American subscribers. But it is a fixed market of just hard copy subscribers right. Theoretically you know if I mean if I -- to heat tardy delivery but in Tahiti I can access the what. So look so them the circulation market if you will on the web for any newspaper has expanded to the global anybody with."

" It into the guy you're dealing you're gonna have to pay was going to be a -- favorite ones that I was glad that means more money not less. Well more I don't know -- somewhere else but yes more rivals that make people our reading news today that -- on the web. We didn't do that we do whatever free exactly and that's going to stop. How what's -- model going to be micro I believe that you know I believe that -- will be selling subscriptions. On the web. That when you log and that is you know -- you do William W little -- political -- content but actually premium. And and either be the whole thing that. The web as it is today website we vastly improved much mind them and you I put them. But that we have a -- at data problems you've got to get. You know that -- the guts of the main headlines and envelopes and everything on you know on your Blackberry and your pom. All whatever. All that long. People need news communities. Live on news about their communities. -- a -- from the together live and joy the -- of the irony is that the one bright spot in the newspapers are now has actually been community papers is actually local paper in New Jersey where I live. That refuses to go on the Internet. And it's profitable because the deal they did so subscription base it on the web win we're doing just fine as we are. Yep well things live every five out of joy that ever throw it down a lot and -- the -- I'm sure -- analog and advertising. But this circulation yes -- there's there's there's -- pace that newspapers rushing into the web to try and get a bigger audience to get more attention from themselves. Had damaged themselves. And that neither of them had to pull back from that she -- and say hey -- it's not -- That's -- tiny community paper and it seems like world. What's happening is that the small community papers. That I would impress every Princeton packet you know become one of what happened down the block so so let's say they're fine. It seems that the super regionals -- that we've seen Seattle PI right we've seen that all the problems -- the Boston Globe Minneapolis papers. Will be tiny community papers and a couple the journal maybe the times maybe USA that a couple of national papers and the super regionals. Go away. No I don't think it's like that so. There were two papers in Seattle. As the with the joint venture that and the evening have been died the same thing happened. In Denver -- government going to papers god but there's still a major news -- the problem presented -- that happen. It's part of a group is very very heavily in -- it. There's been a lot of news of a deal done tonight is. In which people take on ridiculous that private equity firms getting into the integrity you have look at if you have a look at. The Tribune Co. differences could be present saying this time Connecticut that -- this -- making money individually that they can't pay their interest those. Simply say it other bankruptcy it's terrible that doesn't mean the end of the news that. It simply means that some of the."

" Going to buy them from a bank. Well that's being Chicago both dailies. Basically are in big trouble so what what happens then -- want to go away that's okay. -- ones get one's gonna have to go away very had this very out to see how the sometimes confuse there was very ten years ago and I and I I I do you have to run but I but I want to ask you this because we're we're Thomas General Motors and there is some analogies here in the paper business people say what are vital to America. There's even been talked as the New York Times need a bail -- you know but it does need to be protected by the by the government is the fourth estate. But I but I will say this what little we we we will do papers play in not make sure creditor structure. In a national need structure if it."

" A vital role of the deserving of government money now it's not a toll. We would never take money on government I would give up our freedoms than males to criticize. -- helpful role in the community. Nothing that is done what ever -- amount money in my government. And I don't believe the annual evening -- what I believe that the government would do it and realized this would be the end but there's no debtor in possession financing privately that we know for General Motors you've talked about the debt structure companies like Tribune. What if there's no prize money to relieve some of these companies of their -- balance sheet burdens there is private money -- people who left. Who put in -- private money into these highly leveraged situations. Have probably lost. And the banks that allowed them to leverage up may have lost half their money. That's like that's capitalism that's okay. I'll leave it there mr. Murdoch had a great pleasure thank you very much for tickets in time -- us we're we're Murdoch chairman and CEO of News Corp. so they go there will be newspapers. In ten to fifteen years they may be. On electronic tablet but they will exist mr. Murdoch thank you again."