Rupert Murdoch has promised a series of website launches in the UK
following the success of News International’s recently revamped internet
service provider, Bun.com.
At News Corp’s annual meeting in Adelaide, Murdoch completed his
conversion to the net by confirming that the company may float some of
its online interests.
It is thought he will use the move to fund further growth in the
He described the internet and other new media as ’the absolute key’ to
the future of News Corp.
Murdoch has reversed his earlier opinion of the internet, which he once
said would ’destroy more business than it creates’. But he stood by his
view that internet stocks were over-valued.
News Corp is believed to be interested in buying US publisher
Ziff-Davis’ internet arm, ZD Net (Media Business, 20 September). In
America it runs TV Guide Interactive and websites such as FoxNews.com
Murdoch said that Bun.com already had 300,000 new members ’and next
month will begin the roll out of a number of new websites’.