You could say Rupert Murdoch’s dominant role in media comes from his constant need to be involved in a deal.
Or that his outspokenness is what keeps him visible.
But his deals, after all, are what transformed News Corp. from a one-dimensional newspaper publisher into a global media enterprise.
Critics may fault him for burning through so much cash with his deal-making habit, but that very impulsiveness is also his strength.
If he’d been more analytical or afraid of failure, Murdoch never would have sprung for MySpace, and may never have launched Fox Broadcasting or Fox News. And even if he moves too quickly sometimes, his ability to make good snap decisions turned News Corp. into a juggernaut.
“Strategically, Murdoch has been ahead of everybody,” says Wall Street analyst Alan Gould.
The lesson: Murdoch is a classic case of how action beats analysis and how fortune favors the brave.
— Adapted from Inside Rupert’s Brain, Paul R. La Monica, Portfolio.