Will Rupert Murdoch be The Savior of The News Industry?

** Update: While preparing this post for publishing, news reportsĀ confirmed that there are indeed talks between Microsoft and Rupert Murdoch regarding entering a search deal. Obviously, as we said below, he had something up his sleeve! Let’s wait and observe how all of this will unfold!

Rupert Murdoch

Rupert Murdoch

With the increased popularity of the web, came the demise of the news industry as we know it. Reports have shown a serious decline in newspapers’ profitability in the past couple of years as they struggle to keep up the number of their subscribers at a time people moved toward the web and no longer expect to pay for news content!

The threat is very bad; the news industry is seriously at risk. Interesting enough, the decline in profitability, at the news content providers side, is matched with an emergence of a profitable model of web news aggregators led by Google. Rupert Murdoch, the founder and CEO of the world’s second largest media conglomerate, News Corp, has been dismayed with the course of events and the amount of money news aggregators – especially Google – have been making at the expense of his news corporations. He is all set up for some action and is ready for the big fight!

HOW TO: Blog About the Latest News Scoops Using Yahoo! Pipes (Part 1)

A good chunk of a blogger writings is usually based on fresh news stories that are making the headlines. The fresher the story, the higher the chance for the blogger to make an impact. We, Thoughtpickers, are carrying a social media blog which aims to bring a variety of informative and interesting discussions and topics about social media. As a part of our job, we have to deliver you our perspective and commentary on fresh social media news, and thus we were inclined to figure out how to get that chunk of fresh news as soon as it is reported.

Y! Pipes Screenshot

Y! Pipes Screenshot

A brief about news sources:

Our experience and research led us to the following 4 sources of fresh news, and the ways to obtain them as they develop:

One-way broadcast news sources (Web 1.0 style):

  • News agencies and news networks which operate in the real world. The best news aggregator we found is Google News. It aggregates many of the main news sources including AP, Reuters, CNN, NYTimes, …etc. It is also categorized which, in turn, allows us to pick the category that interests us the most – tech news in our case. In addition to that, it also offers alerts via emails or RSS feeds.
  • Press releases issued by companies around the globe. Press releases are covered partially by Google News if a company issues frequent press releases andĀ  is listed as a news source by Google. Some of the top press release distribution services we found are: prweb.com, prnewswire.com, businesswire.com, pr.com, marketwire.com. Moreover, one of the best press release search engines we stumbled upon is EurekAlert which also sends alerts – as the name suggests. But again, after a lot of hours spent clicking around and comparing different services, we believe that Google News covers press releases in a reliable and fast way, so there is no need to consider other sources for press releases.

How is Social Media Reshaping the News Industry?

Social Media has set a new milestone in the history of media and re-defined the way people access information. News Media outlets are changing their business model in many ways to harness social media powers.

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