And he is right. Publications need to abandon the traffic = revenue model. It isn't working. Most papers can not support the cost of their website products with the revenue generated. And to make matters worse, the perceived value of those websites, and of web ads in general, appears to be dropping. There is such a glut of inventory that the revenue generated from web advertising for most publications is slowing. 

Despite this, however, more publications than ever think having a really cool free website with surveys and colors and blogs and a spot for local weather is going to save their business. Hopefully, they will take a minute and read Murdoch's ideas (as reported by Reuters). He is right. The thing that will ultimately save publications is their content - no other medium does a better job of generating it. People should pay for access to it, even if it is a small amount.