This is an inside Internet baseball column, which you might not be interested in if I don't begin with the punch line: Murdoch buys Twitter.
On Friday, late in the day, News Corp. announced that it had hired Jon Miller to run its Fox Interactive division. Miller was, several executive changes back, the head of AOL. He may be the most successful executive ever when it comes to dealing with Internet companies that will never be successful because they've been run by non-Internet companies -- like Time Warner or News Corp. (Among AOL people, if you ask, the last time anything good happened there, and pretty much nothing good has happened there in near 10 years, was when Miller was running the place.)
Miller, since his time at AOL, has put together a venture fund, Velocity, which has a portfolio of choice investments (among them, Broadband Enterprises and OpenX). So, it makes little sense for him to go back and run an old-line media company's dubious digital strategy.
News Corp.'s is as dubious as any. It's piss poor. Aside from MySpace, which the company lucked into, it's got nothin'. And MySpace, once the killer social networking app, is looking a lot like AOL--bad technology, lower-demo users, no business plan, and no coolness at all. News Corp. has run it into the ground. (Up until last month, when he announced his imminent departure, News Corp.'s COO, Peter Chernin, was trying to offload MySpace in some fashion, and lock in some gains--but no luck there.)
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