TimmyHMurdoch’s slap in the Facebook
June 24th 2008 06:15
News Corp. CEO Rupert Murdoch has dismissed Facebook as little more than a “directory.” The social networking site is the chief rival of News Corp.’s own MySpace and has had a stellar rise over the past few years.
But Murdoch seems unconvinced by Facebook’s supposed popularity “They've not monetized as well as us,” he said. “They've done a great job of being the flavour of the month the last six months of last year.”
His underling and second in command, Peter Chernin has been slightly more accepting, acknowledging that that Facebook has come has become a credible competitor since it opened up its site to outside developers in 2006. In fact Facebook led the way in this regard, MySpace has only recently followed suit and more innovations are reportedly on the way. “Facebook’s rise really galvanized us,” he said. “It's what competition should do. We owe a great debt to Facebook for knocking us in the head.”
The two spoke yesterday at the annual Cannes Lions International Advertising Festival, where Murdoch heaped praise on US Presidential Democratic Nominee, Barack Obama. Murdoch described Obama’s ability to draw massive outdoor crowds a “very, very interesting phenomenon.” He also acknowledged that Obama’s personal popularity could see him make tough decisions including reforming educational policies.
But interestingly, Murdoch has been highly critical of both Presidential candidates Obama and McCain on the economy. “Both candidates at the moment are talking nonsense in economics,” he said.
But Murdoch seems unconvinced by Facebook’s supposed popularity “They've not monetized as well as us,” he said. “They've done a great job of being the flavour of the month the last six months of last year.”
His underling and second in command, Peter Chernin has been slightly more accepting, acknowledging that that Facebook has come has become a credible competitor since it opened up its site to outside developers in 2006. In fact Facebook led the way in this regard, MySpace has only recently followed suit and more innovations are reportedly on the way. “Facebook’s rise really galvanized us,” he said. “It's what competition should do. We owe a great debt to Facebook for knocking us in the head.”
The two spoke yesterday at the annual Cannes Lions International Advertising Festival, where Murdoch heaped praise on US Presidential Democratic Nominee, Barack Obama. Murdoch described Obama’s ability to draw massive outdoor crowds a “very, very interesting phenomenon.” He also acknowledged that Obama’s personal popularity could see him make tough decisions including reforming educational policies.
But interestingly, Murdoch has been highly critical of both Presidential candidates Obama and McCain on the economy. “Both candidates at the moment are talking nonsense in economics,” he said.
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