CANNES, France News Corp Chief Executive Rupert
Murdoch said on Thursday that the share of revenue coming from
digital businesses across the Dow Jones Company could reach 75
percent "in a very few years."
Murdoch, who along with News Corp Chief Operating Officer
Peter Chernin was speaking at the Cannes Lions 2008
international advertising festival, also said he wanted to make
the Wall Street Journal "the best in the world."
"It's not just the Wall Street Journal, it's the Dow Jones
Company, whose revenues are nearly 50 percent digital. I can
see in a very few years (revenues going up to) 75 percent
(from) digital" he said.
Asked if he had been surprised by anything after buying the
Wall Street Journal, he said: "I was surprised how cooperative
the vast majority of journalists have been."
Murdoch also said that tough economic times could provide
opportunities for his group.
"As far as we are concerned, we are in a very strong place
with our earnings. We intend to plow right ahead and take
advantage of it, hopefully, whenever we can," he said.
Chernin advised advertisers against curtailing spending.
"Spending marketing money in tough times, in my opinion,
it's the greatest investment you can make. You have so much
more impact increasing your marketing spending in tough times,"
Murdoch's media empire ranges from the recently acquired
ownership of the Wall Street Journal and its parent company Dow
Jones & Co to the world's largest online social network,
(Reporting by Dominique Vidalon; Editing by Brian Moss)