Murdoch ploughs $1bn into the Internet

Posted Thursday, August 11, 2005 at 12:02pm in Blogging, Business  | 

The Media Guardian reports that media mogul Rupert Murdoch‘s media empire, News Corporation is investing $1bn into an Internet news portal to rival the likes of Google and Yahoo!.

Murdoch said:

“We are in very advanced negotiations to buy a controlling stake in what we think is a wonderful search engine”

Let’s hope he joins the RSS party, or that $1bn may just go to waste.

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