Murdoch needs digital licence to print money.

Byline: Rupert Steiner

May 8--Until recently, the only net Rupert Murdoch was interested in was the one on his News Corporation balance sheet attached to the profit figure. It's not that he had overlooked the internet these past few years, or lacked initiatives or investment. In 2000, the company earmarked more than $2.3bn ([pounds sterling]1.2bn, E1.8bn) for internet ventures. It's more that he and his executives have failed to find a strategy that worked, a model that embraced the worldwide web as a means to capitalise on the content from his various media agencies.