Building an Internet Empire
How much does it cost to build an Internet empire?
One billion dollars.
That's what it costs to turn a traditional media empire into an Internet powerhouse, give or take. Don't worry about cleaning up the mess afterwards. The one billion covers that, and it gets you 70 million online users, more pageviews than Google(GOOG Quote), and growth rivaling Yahoo!(YHOO Quote).
News Corp.(NWS Quote), led by media tycoon Rupert Murdoch, has recently spent $1.2 billion buying two Internet properties that could propel News Corp.'s business growth and stock price into the ranks of Yahoo! and Google. A traditional media empire (TV, film, print newspapers), News Corp. has not done as well as its Internet media peers lately, and a brief look at its stock performance over the past year may lead one to believe something is not working in Murdoch's empire. ...
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