Murdoch's News Corp Returns to Modest Profit

Who made the rule that everything on the internet should be free? It's the question that beleaguered media executives around the world are have been muttering to themselves for months now.

Photo: Murdoch's News Corp Returns to Modest Profit

The only certain answer is that it was none of them, because when the decisions about internet strategy were being made in their organisations, none of the most senior bosses were particularly interested , guardian.co.uk reports.

Meanwhile, Rupert Murdoch's News Corp has flagged a return to modest profit growth this year after posting a massive $US3.4 billion ($4 billion) loss for 2008-09, weighed down by the global advertising recession and more than $US9 billion in writedowns and charges.

Operating income would rise "in the high single digit-range" for the year to June 2010 after a 32 per cent slump last year, with business expected to pick up after "challenging comparisons" in the first quarter, the company told analysts ,The Age reports.

“Our policy is to win and we will make our content better and differentiate it from other people,” said Mr Murdoch. “If we’re successful, we’ll be followed by other media.” , elegraph.co.uk reports.