Australian media is busy speculating over Rupert Murdoch’s new idea for content access.

Margaret Simons of the Content Makers, reports how Caroline Overington, senior writer and columnist with The Australian (part of Murdoch’s News Limited) let slip that Rupert Murdoch’s pay wall plans might include a ‘cool new toy’ for accessing media content.

Simons reports from the Media140 conference:

“Overington said that News Limited had many wonderful plans of which they were very proud, and they could not be unveiled yet, but she believed they would lead people to pay for content.

“Then in the closing stages of the session, she referred to iTunes, and how people had turned to paying for music that they could get elsewhere for free because of the entry of a ‘cool new toy’ in the iPhone.

“She added: ‘That’s kind of what we are thinking about.’

“So what is it, I wonder? Some kind of deal with Apple, soon to release its new electronic reader? A competing product? Very intriguing.”

An update, pointing to coverage of the Apple Tablet negotiations, with more speculation on the ‘iRupert’ at this link.

And Overington at Media140 courtesy of SlowTV.