Murdoch U-turn puts Net at the core of News Corp

NEWS News Corp will be betting its future on the Internet according to its chief executive, Rupert Murdoch. The announcement marks a major U-turn for the media mogul, who only last January dismissed the Internet as 'overvalued' (http://www.silicon.com/a27901 ). Speaking at the annual News Corp meeting in Australia this week, he claimed the Internet is key to the future of the company. Murdoch said News Corp will continue in its traditional media of newspapers and television, but will also expand operations to include interactive TV and the Web.