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" "People are reading news for free on the web, that's got to change.
Rupert Murdoch (born March 11, 1931) is an Australian-born American businessman, media tycoon, and investor. He is the Executive chairman of News Corp, a worldwide media conglomerate, and chairman of the board of Fox Corporation.
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While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.