Speaking at a conference in Barcelona yesterday, Mr Murdoch said: "In the business of ideas, which is the business that we are in, we do think journalism plays a role, and we do think there are business models there that will make a lot of sense, albeit perhaps not at the scale of some of our broadcasting businesses and other entertainment businesses.
"Is it going to be as big a role? No... structurally, television is vastly more profitable and a big opportunity."
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