Press: Murdoch's Risk

The Times goes down under

His papers were feisty and profitable, brimming with grisly crime stories and pictures of scantily clad women. But Rupert Murdoch, 49, was never content to be lord of the tabloids. He gained a foothold in New York with the racy Post, then reached for a more literate audience with New York magazine and the Village Voice. Now the Australian publisher has reached an agreement to purchase one of the world's most staid and revered publications, the Times of London.

Murdoch has made his acquisition of the Times (circ. 290,000), the...

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