So now he's worried.
News Corp is taking its most serious look at its online operations since Rupert's son James led a failed high-tech push in the 1990s. Murdoch is re-focusing on the Web amid declining newspaper readership, a sharp rise in consumer broadband use, and growth in internet advertising, especially in the area of paid searches.
About 50 senior News Corporation executives, including Murdoch, met in New York on Wednesday to map out an internet strategy for the global media company on how it should tackle the sharp growth in internet advertising and changing viewing habits.
And they brought some McKinsey chaps along to help them work out what to do.
Emily Bell at The Guardian questions whether Rupert's gathering in New York "is a serious call to arms or just another exercise in a phoney war".