Newsweek is hailing Rupert Murdoch as "a leader in digital media after some smart bets" -- while undoubtedly News Corporation's size and sway make it somebody to pay attention to in the space, just because they can throw some money around doesn't make them a company to follow. Keep in mind that most of the media hype didn't think Murdoch "got" the internet until his company dropped $580 million on MySpace little more than six months ago, and his strategy since then has been less than convincing. There's little in the magazine's interview to suggest Murdoch's much of a visionary: basically, they're going to put targeted ads on MySpace (that was a tough one), and he thinks video to mobile phones is more important than downloads to computers or the iPod, inferring that the company's one-minute "mobisodes" of the show 24 are the way to go. Apparently he's been so busy "getting" the internet that he missed the news that Fox yanked the 24 mobisodes because they were so unpopular. Also, weren't video downloads from MySpace a cornerstone of his strategy for the site? Murdoch and News Corp. may be throwing money around on acquisitions, but that's about it. To call those acquisitions smart, or to paint him as some sort of internet-media visionary, is awfully premature.
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