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MURDOCH WARNS: NATIONS WILL BE REDEFINED, FUTURES ALTERED
Tue Feb 24 2009 08:36:39 ET
Media baron Rupert Murdoch issued an urgent internal communication late Monday, warning his staff: "We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered."
The dramatic call comes as markets continue their plunge and the future of media becomes increasingly muddled.
"Many people will be under extreme pressure and many companies mortally wounded," Murdoch declared.
"Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends."
He continued: "Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers – we will renew ours.
"The direction of the business now and over the next few years will define the character of our company for decades."