"News Corp poised to challenge LinkedIn," reads the headline in The Times of London. News Corp owns the Times as well as the Wall Street Journal, which would reportedly be the brand slapped onto the social network.
It may be a little late to be starting a social network, although perhaps it's still early in newspaper years. Things move slowly over there, you know.
It's one of a number of initiatives being dreamed up as Rupert Murdoch's new News Corp. splits off its marginally profitable newspapers from its highly profitable entertainment, television, cable and and satellite business.
Besides the social network, word is the Journal is setting up an instant messaging service for its readers. The world already has a few of those too, of course, but the thinking apparently is that the Journal's imprimatur is such that no respectable hedge fund manager would think of using Google Chat if he could use RupertSpeak, or whatever it will be called.
Meanwhile, in other News Corp news ...
- Robert Thomson, News Corp CEO, said there will be "relentless" cost cuts in store for the newspaper business as it prepares to separate from Murdoch's entertainment empire (maybe News Corp should open a resume-writing business for its employees);
- The company is getting a new logo (see above). In a 643-word memo, eager employees were told the logo is “based on the writing of Rupert and his father.”
- No grass will grow under the new News Corp's feet, employees were assured. "We will boldly try new businesses and models, unafraid to learn, confident of overall success together," CEO Thompson said in his memo, which appeared to have been cribbed from a graduation speech.