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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

News Corporation's Murdoch Blames BBC For Driving Independent Journalism Out of Business

Politics / Mainstream Media Aug 28, 2009 - 07:39 PM GMT

By: Nadeem_Walayat

Politics

James Murdoch of the media giant News Corporation lashed out at the licence fee funded BBC for driving out independent media that cannot compete against the BBC's free services, especially the online services that cost the BBC £186 million per annum to deliver but are paid for via the licence fee, whereas mainstream news organisations operate their free online services at a huge loss and are increasingly being forced to charge for online access as the print media continues to shrink as more people turn to the internet for news and information.


James Murdoch said :

"The expansion of state-sponsored journalism is a threat to the plurality and independence of news provision,"

"The BBC is dominant, Other organisations might rise and fall but the BBC's income is guaranteed and growing."

"It is essential for the future of independent digital journalism that a fair price can be charged for news to people who value it,"

Whilst there is truth in that the licence fee funded BBC presents unfair competition that is driving the independents out of business. However News Corporation is more akin to a wolf in sheep's clothing than standing up for independent journalism as Murdoch's empire has over the past 3 decades sought to devour the competition. Clearly the fact that the BBC is one institution that News Corporation cannot devour, defeat or destroy is highly irritable to James Murdoch.

However the mainstream press that now seeks to charge for online access may increasingly see their readerships diminish further as the truly independent and experienced commentators that actually understand the topic's that the mainstream journalists with only a journalism degree purport to report on with authority, when in actual fact tend to have very little clue on the subject matter being reported on, such as the UK housing market where the press as epitomised by the Telegraph ran with headlines of another 55% fall in UK house prices in March 09 which was just about the time when UK house prices were bottoming.

Therefore, whilst the giants such as News Corporation will survive, may of the smaller mainstream media entities will continue to die slow painful deaths as they cannot compete against more informed content that is delivered for free by the likes of the Market Oracle and many others.

By Nadeem Walayat
http://www.marketoracle.co.uk

Copyright © 2005-09 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 300 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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