A Los Angeles Times' report says the outlet will have its own editorial and production resources and staff. In other words, it will be staffed like any other self-sufficient newspaper like the New York Post or the Herald Sun. The paper would also take stories from News’ other publications around the globe.

Murdoch is pumped. During the News Corp conference call on August 4 he said: “We’ll have young people reading newspapers. It’s a real game changer in the presentation of news.”

It seems that Murdoch is trying to reach two highly significant goals. The first is to make money on the internet, which is something he has not done and few have been able to do. The second to get younger people to read newspapers or newspaper-like content – and pay for it.

The first issue is one Murdoch needs to fix for his own well being. His web properties do not make money. One in particular – MySpace – has sustained massive losses, while CareerOne somehow managed to lose $17.5 million in the last financial year. Fifteen years since the internet really ‘happened’, News is still struggling to find its feet. At the same time, and despite pronouncements of the death of the medium, its cable television businesses remain highly profitable and are seeing healthy revenues from subscriptions and advertising.

Murdoch feels pay walls and subscription services are possible solutions, as these work well in the cable television businesses. But so far the results are lukewarm.

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