Rupert Murdoch does not seem like a man in need of a better Rolodex. Yet, the media mogul is said to be considering the purchase of LinkedIn Corp., a social networking site populated by professionals. Unlike its snazzier cousins, Facebook or Murdoch’s own MySpace, LinkedIn looks more like a Web 2.0 version of a business card file.
That may suit News Corp. perfectly. LinkedIn boasts of a 16-million-strong user base chock full of Fortune 500 corporate executives. These are a far cry from the music and sex-obsessed denizens of MySpace. They are the very people that should be reading The Wa ll Street Journal (WSJ) and watching the Fox Business Network.
Say the soon-to-be free WSJ.com created profiles for all LinkedIn users on its site. This would connect the world’s largest network of business professionals with its most valuable financial media property. Come to think of it, it’s easier to see how LinkedIn fits into Murdoch’s empire than MySpace does.
Dow Jones & Co. Inc., the WSJ’s current parent, is a minority investor in Breakingviews and is currently in the process of being acquired by News Corp. The WSJ also carries a daily breakingviews column.
News Corp. is in talks to buy LinkedIn, the professional networking site, sometime in January, TechCrunch, a blog focused on technology, reported without citing sources.