Rupert Murdoch sat down for an interview with Pattie Sellers of Forbes magazine and media outlets the world over have reported on the Forbes article. The Guardian has a balanced take. The interview also covers print:
Turning to the newspaper business, Sellers asked Murdoch: why keep the loss-making New York Post going? “I don’t know what it lost last year, but I think that in 2012 it lost $40m…
“Advertising has been very difficult. We’re looking at various plans for the Post. We are working very hard on the digital edition.”
Are you suggesting that in the next five years the Post as a print newspaper could go away and digital would be it? “I would be surprised. I’m not saying it’s impossible. I would think it might be quite likely in 10 years.”
What about the Wall Street Journal? Is that likely to exist in print form in 10 years? “I think so. Maybe not in 20. A lot of people are very happy to read their newspaper either on their iPad or — startlingly and faster and faster the figures go up — on their telephone, on their smartphone.
“At the London Times a third of our circulation is on a tablet. And people who read it on their tablet are spending 20% more time than if they’re reading the paper.”
Newsagents relying on newspapers to drive traffic and revenue should take this on board.