Chase Carey

Why The Daily matters

February 3, 2011: 2:16 PM ET

It's not the end of the struggle to translate print media to a digital platform -- it's just the beginning.

Rupert Murdoch, Chairman and Chief Executive O...

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Among the media elite, obits are already being written for The Daily. The content is unimaginative, they say. The tech is buggy. The numbers don't add up. And it's mostly true, but maybe they're missing the point.

Once again, Rupert Murdoch has launched a large and flashy innovation lab for the future of media. Does it have to be anything more than that?

We've seen this game before. When Murdoch bought MySpace, people called him crazy and then brilliant and then crazy again. News Corp. (NWS) COO Chase Carey announced very publicly in its earnings call this week that the company is considering "strategic options for the business." (Translation: somebody buy it, please!) But for awhile back in 2007 employees sat two-to-a-desk and both users and advertisers signed on in droves. Facebook has now rendered MySpace irrelevant, but that crucial competition early on helped shaped industry thinking about what a social network could and should be and conditioned a generation of consumers to the idea of logging on to the Internet to connect with friends. More

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