Rupert Murdoch sees current events as an inflection point in history, after which nothing will be the same.

"We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered."

..and he's acting on that bet.

"Many people will be under extreme pressure and many companies mortally wounded," Murdoch declared.

"Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends."

He continued: "Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers – we will renew ours.

"The direction of the business now and over the next few years will define the character of our company for decades."

You can see it in Fox News. While the other news media are dutifully acting as adjuncts to the White House press office, Fox is bringing up a lot of inconvenient truths these days--almost like they are reporting on another country. Effectively, NBC, ABC, CBS and CNN are betting on success and Newscorp is betting on failure.

Ask yourself who has been making better book over the past 40 years?