From Danwei:
Now that Rupert Murdoch has proven that Western media companies can’t get ahead in China through flattery, nepotism and the back door, we at Danwei will have to have to find a new model for our business.
In case you didn’t know, Rupert is the world’s last true media mogul – his company, News Corp., owns everything from 20th Century Fox Studios to ultra-conservative Fox News to the tabloid New York Post. Last week, Rupert stunned the media world by ditching most of his stake in Hong-Kong based Phoenix TV. In dropping from 38% control of Phoenix to 18%, Rupert indicated that a recent string of failures has forced him to scale back his dream of extending his broadcast empire to China. [Full Text]
