Vanity Fair is running the second excerpt from the forthcoming book that Michael Wolff wrote about News Corp chief Rupert Murdoch (this one centers on his family), and Wolff is making the rounds this week to talk about it. He was on CNBC moments ago, engaging in everyone’s favorite media parlor game: Parsing Murdoch’s every move like a multi-clause sentence. Friday’s appearance follows a panel discussion at a PaidContent.org conference earlier this week where he made similar remarks. Here’s what he said on CNBC.
What will Murdoch do after buying The Wall Street Journal? What’s his next move?
“I’m not sure that he exactly knows. One of the problems here is that he bought a newspaper and not only did he buy a newspaper, but if he had only waited six months to buy that newspaper he would have saved a billion and a half dollars.” (Nothing like hindsight, is there?)
What will he buy? What will he sell?
“I don’t think that he’ll do either in the short term. I think in the short term they’ll try to manage their businesses the best way they know how.”
Does Rupert care that his stock is down?
“Does he care? No! Do the people around him care? The people holding stock options? Well, let me put it this way. Having spent a lot of time around that building, I have heard people at the highest echelons of that company complaining deeply about the price of News Corp shares.”