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News Corp puts its faith in revenues from new media
Michelle Perry
News Corporation's redesign of the Wall Street Journal website and more effective marketing of Dow Jones digital products will boost subscriptions by more than $300m a year, Rupert Murdoch has predicted.
Murdoch told investors at a Goldman Sachs conference in New York that the Dow Jones digital assets, which he bought last December, had been "crazily undervalued and grossly undersold".
News Corp is relying on cable networks such as Fox News, Sky Italia and the Fox Interactive Media group, which includes MySpace, to offset weaknesses in advertising at newspapers and local TV stations.
Murdoch said there had been "almost no cancellations" by advertisers on the Fox network so ...