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“It’s Worth What You Pay for It:” The secret of for-profit news resides in its dynasties.
Rupert Murdoch is stepping down as chair of Fox and News Corp, having built the little Australian newspaper he inherited at the age of 21 (The News of Adelaide, circulation 75,000) into a global multi-media complex of enormous political influence. He is to be succeeded by his elder son. Myself, I have been preoccupied recently…