Rupert Murdoch sketches financial media assault

RUPERT MURDOCH SKETCHES FINANCIAL MEDIA ASSAULT
[SOURCE: Reuters, AUTHOR: Kenneth Li]
Rupert Murdoch sketched out his plans for the Fox Business Network on Friday, saying he will spend years nurturing the new channel to win over more than half of the business news audience. The News Corp chairman and chief executive confirmed media reports that his media conglomerate intended to invest $150 million to $200 million over three years in FBN, including about $70 million in fiscal 2008. Aiming to repeat the success of the Fox News Channel, which unseated CNN as the top cable news network four years after its launch, FBN is part of Murdoch's ambitions to build a global financial media powerhouse in print, the Internet and TV.
http://today.reuters.com/news/newsArticle.aspx?type=industryNews&storyID=2007-10-19T201947Z_01_N19419099_RTRIDST_0_INDUSTRY-NEWSCORP-WRAP-DC.XML

* Murdoch: Pulling CNBC Ads Could Have Been “Heavy-Handed”
[SOURCE: Multichannel News, AUTHOR: Mike Farrell]
News Corp's Rupert Murdoch said the controversy surrounding advertisements from CNBC that were pulled from the Wall Street Journal and MarketWatch web sites during the launch of News’s rival Fox Business Network was done without his knowledge. He added that the decision to pull the ads could be perceived as being heavy handed, but said it would be well within News Corp.’s rights to reject ads from competitors.
http://www.multichannel.com/article/CA6492804.html

* News Corp sees $1 billion Internet revenue this year
[SOURCE: Reuters, AUTHOR: Kenneth Li]
At the end of its fiscal fourth quarter, News Corp said it would be "surprised" if its Fox Interactive Media Internet division revenues "do not exceed $1 billion with margins well above 20 percent." Also, on Thursday, the company cut its fiscal 2008 revenue outlook for its MySpace online social network to about $750 million from its prior target of over $800 million.
http://www.reuters.com/article/internetNews/idUSN1933724920071019

* News Corp. hangs onto its dual-class stock system
Murdoch, in control, says investors know the score
http://www.usatoday.com/printedition/money/20071022/3b_murdoch22.art.htm