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Rupert Murdoch talks about "creative destruction" which he describes as the replacement of the old ways of doing business with technologically superior ones.
Cell phones, laptops, and blogs have led to the end of the mass audience, meaning advertisers have to be more resourceful to reach consumers.
Rupert Murdoch describes the competition between his MySpace social networking site and the newer Facebook site and how he watches and admires Facebook even though they are not in direct competition.
Rupert Murdoch addresses critics of Fox News' strong conservative slant by saying more voices in media are always better than fewer voices, and that it is hard to maintain an unbiased point of view.
Murdoch contends that all news organizations have biases.