Newsflash for the day: News Corp piled up on yet another big Internet purchase. IGN for $650mn. I've talked about it before. Rafat Ali has a very nice summary on paidcontent.org (my favorite digital media newsletter). Even at this "reduced" price, I can't help but find the purchase exceedingly expensive - it does, however, make a powerful statement of Murdoch's commitment and strategy.
Murdoch is truly the last media mogul standing. Gone were the days when media empires were built on one man's vision and his relentless desire to execute. Grand ideas, after all, often require a leap of faith - investments and risks are too high by any traditional financial measures; future returns inconceivable based on current environment. The mogul is, in essence, identifying (or creating) a consumer need that's unknown to rest of us.
Certainly refreshing to watch - and thanks, Murdoch, for re-energizing the Internet space!
Image Credit: www.mapartners.net