Simon Waldman reports a Rupert Murdoch speech to the American Society of Newspaper Editors.

Says Mr Waldman:

By Jove, I do believe he’s got it. All read very eagerly no doubt over in Wapping.

“I don’t hold out any hopes for people to be paying for our Internet sites,� he said in response to a question (says Paidcontent.org) . They have to be popular enough to hold a lot of advertising.� Now, there’s a turnaround.

A turnaround indeed. But how can an overtly commercial organisation such as News Corp balance two priorities: the need to capture a public unwilling to pay, and the need to make a profit? We await with interest…