Is Murdoch exactly what the industry needs?

Simon Constable of The Street would appreciate it if everyone would stop complaining about Rupert Murdoch and the News Corp. empire.
In fact, he says, Murdoch is enlivening a business in much need of a shakeup.

"Whatever you say about him -- and there's plenty to say -- the truth is that he's exactly what the American newspaper needs right now. The newspaper business is suffering now from a lack of internal competition. It shouldn't be a surprise that the quality of product has declined, and that as a consequence, readers have fled.
No industry has ever benefited for long where competition has been lacking. Just look at what happened to RCA, which at one time had great color-television technology but let it all slip after achieving monopoly status, says Michael Carew, professor of economics at Baruch College in New York. It's a similar story where newspapers are concerned."

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