Reuters: Murdoch’s online operation to miss ambitious targets

May 8th, 2008Posted by Oliver Luft in Editors' pick

The stressed state of the US economy is causing advertising budgets to shrink – causing News Corp to miss its ambitious online revenue target of one billion dollars by ten per cent, Rupert Murdoch said yesterday.

Reuters reported that the media tycoon claimed Fox Interactive Media – which runs the online part of his US empire, including MySpace – will however have “well over” $1 billion in revenue in the 2009 financial year.

Tags: advertising budgets, ambitious online revenue target, Fox, Funding, media tycoon, Myspace, News Corp, online operation, online part, reuters, Rupert Murdoch, United States, USA, USD

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