“We will inform and educate the public in new ways,” says Murdoch ahead of News Corp split

Ahead of News Corp’s split from Fox Group next month, Rupert Murdoch has spoken of his “spectacular” mistakes of the past whilst outlining his goals and aspirations for the future of his new business venture.

Speaking to investors in New York on Tuesday, Murdoch said that the chance to “do it all over again” gives him an extraordinary opportunity that most people never get in their lifetime. “There is opportunity everywhere,” he said.

News Corp, the publishing arm of Rupert Murdoch’s media company, is set to start as a separate, public company on June 28 after Murdoch injected £1.2 billion into the business – net cash and no debt.

“Knowledge is the most valuable commodity in the world,” Murdoch said, “and never has a more ravenous appetite for knowledge existed than it does today.

“We will inform and educate the public in new ways.”

The new News Corp combines five different news divisions and will break away from News Corp’s entertainment company Fox Group, without losing its TV and film properties.

“Our goal is to compress the success time-line of the original News Corp from 60 years to 10 years,” said Murdoch. “You might think that sounds crazy, but today we have wifi, 4G and digital compression.”

The 82 year old media mogul, who will remain chairman and chief executive of Fox Group as well as taking up the position of chairman for New News Corp, said that though he has made “spectacular” mistakes since he started the company in the 1950s, he believes that he has also “confounded expectations”.

The new News Corp logo was also unveiled at the meeting, a script based on the handwriting of both Murdoch and his father, Keith.