News Corporation signalled its intention to ‘disrupt’the education publication market, yesterday, identifying it as a key area for market growth.
According to The Times Chase Carey, News Corp CEO, told the UBS media conference in New York: “Education is stuck in an environment from 40 years ago, with Kids carrying around knapsacks of books that break your back. We think we can create some exciting new business there and we think we can be disruptive.”
These comments come after News Corp hired Joel Klein, who has run New York City schools system since 2002, and acquired a 90 per cent stake in Wireless Generation, an education technology company, for $360m (£228m) – The Times reports.
A move into educational publishing would put News Corp into further competition with Pearson, which owns the Financial Times. News Corp publishes US-based financial daily the Wall Street Journal.