News Corp. CEO Robert Thomson commended the enhanced business climate in the U.S. post-election, expressing his view that the burden of political correctness (often referred to as “wokeness”) has been alleviated.
Thomson stated that business confidence in the US has noticeably improved following the election. While the brief disruption caused by transactional tariffs has passed, there seems to be a mix of economic optimism and cultural renewal as the influence of ‘woke’ ideologies appears to be lessening. We anticipate this shift will result in fewer unnecessary regulations, increased investments, expanded opportunities for everyone in America, and more open, innovative, and engaging discussions. It’s our hope that we are moving away from a period marked by censorship and self-censorship.
Although Thomson defended his statement as a broad observation about market trends, it’s worth noting that Dow Jones, a subsidiary of News Corp., which is owned by the Murdoch family and encompasses publications such as The Wall Street Journal and the New York Post, saw an impressive $600 million in revenue for the quarter. This growth was primarily due to increased circulation revenues, with digital circulation revenues experiencing their fastest expansion in two years.
Additionally, it experienced a surge in earnings from its professional information business, primarily due to its subscription services. News Corp. anticipates a rise in year-on-year growth at Dow Jones during the latter half of the year. For the quarter, digital-only subscriptions at The Wall Street Journal rose by 7%, while total subscriptions increased by 4%.
News Corp has joined several other publishers in entering into a licensing agreement with the AI platform OpenAI. Thomson expressed approval for this partnership while criticizing Perplexity and a newer competitor called Deep Seek. In October, News Corp took legal action against Perplexity, an artificial intelligence research and conversational search engine, claiming that it is unlawfully using News Corp’s copyrighted content.
Thomson expressed satisfaction with our collaboration with OpenAI and encouraged other industry peers to adopt a forward-thinking mindset like us. Meanwhile, our lawsuit against the puzzling Perplexity continues, and we eagerly anticipate the evidence gathering process, or in simpler terms, the document discovery phase,” Thomson stated.
The leader of News Corp stated, “We strongly feel that this discovery stage is crucial, not only for us, but for everyone who values intellectual property integrity. The rapid growth of Deep Seek serves as a clear reminder to all AI developers: if you can’t provide authentic and up-to-date news, your AI will lack urgency and relevance. While data centers, energy resources, and advanced processors are undoubtedly essential components of AI infrastructure, we strongly believe that content will reign supreme in the world of AI.
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2025-02-06 01:54