The CEO and Chairman of News Corp, Rupert Murdoch, has revealed in an interview that he feels micro-blogging sensation Twitter is an "amazing phenomenon" but fears the owners of the site will have trouble making money from its success.
Speaking to TheStreet.com Murdoch revealed his thoughts on the Twitter, explaining: "It's an amazing phenomenon but I have no idea how they can monetise it. No one monetises the Web today to any extent other than search."
On the theme of search, he also spoke candidly about Google and the news aggregation side of the search giant's business – an area which is obviously close to the heart of the owner of
Article continues below
When asked about the aggregation of copyrighted content on the internet for free, Murdoch noted: "We'll be more outspoken on the whole issue of payment for copyright material and that goes to every aggregator, whether it be Yahoo! or Google or Ask.com or anything.
"We employ thousands and thousands or people as do others. I mean, there are billions of dollars spent, probably every month, but certainly every year in the collection and the creation of copyright by organisations and they cannot do that and have that material which they own stolen from them or the business will be destroyed."