Rupert Murdoch, a proprietor known for having ink in his veins, has hailed the day when electronic reading devices will do away with the need for newsprint and the costs that go with it.
Devices such as Amazon.com’s Kindle and Sony’s Reader could take 20 years to displace newspapers, the News Corp chairman told Goldman Sachs’ annual media conference, “but I do certainly see the day when more people will be buying their newspapers on portable reading panels than on crushed trees”.
“Then we’re going to have no paper, no printing plants, no unions,” said Mr Murdoch, who battled printing unions at his Wapping plant in London more than 20 years ago. “It’s going to be great.”
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His comments came as he and Jeff Zucker, chief executive of NBC Universal, gave the most bullish appraisal of advertising spending yet seen in the US media industry.
Read more: By Andrew Edgecliffe-Johnson, Financial Times