Murdoch: I'm Not Cowed by Recession, Chernin Exit

Rupert Murdoch is touting his own "contrarian" tendencies as what will see News Corp. through the current recession and the implosion of the print media business. “In the past, we have met downturns with vigor, often departing from the herd. We have emerged much stronger," he said in an internal memo aimed to calm anxieties over the departure of his top lieutenant, Peter Chernin, and fears that MySpace co-founders Chris De Wolfe and Tom Anderson will follow him out the door.

Insiders say the pair are talking about moving on when their contracts expire later this year, although De Wolfe told the Times yesterday that they are "very happy at MySpace" and plan to keep their heads down. Murdoch said that instead of hunkering down during this time of upheaval, as competitors cut back on quality "in the search for immediate dividends,” News Corp. should step up boldly. (More Rupert Murdoch stories.)