Photo: AdrianDennis/AFP/Getty Images/NYMag.com
According to News Corp’s Deputy COO James Murdoch – son of CEO Rupert Murdoch – the next step for the media company is expansion, Financial Times reports.The only other option? Failure.
While speaking at the Cannes Lions advertising festival, Murdoch explained that News Corp must compete with media giants like Google, Apple, and Verizon in “an all-media marketplace,” which he described as “much bigger beasts than a News Corporation.”
During his address, Murdoch said:
“We are a large company…and the real issue is how do we keep the creative culture, that commitment to making sure people can be entrepreneurial and take risks…The real issue becomes, though, that as the competitive set shifts, we’re not big enough.
…And a big factor of how this thing plays out over the next five to 10 years is going to be how we do that, and how we make ourselves as good – at a much bigger scale – as we can be.
Because, otherwise, we will fail.”
News Corp is currently awaiting merger clearance from the UK government to move forward in acquiring the 60.9% of British Sky Broadcasting it does not own.
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