Rupert Murdoch joins Twitter? 'Now this will be fascinating,' says Piers
Within hours, the media tycoon had amassed more than 14,000 followers and was giving them his views on everything from the US presidential election to his family holiday in the Caribbean.
The arrival on Twitter of one of society's most divisive figures was welcomed by some, but pilloried by many others.
Another tweet suggested Murdoch follow Tom Watson, the Labour MP whose dogged pursuit of the scandal has won him many fans.
Users of the micro blogging site have reacted with a mixture of incredulity and unabashed horror to a declaration , Murdoch had set up a verified account and would be gracing the site with his unique observations.
Media predictions for 2012: media business and advertising
Big plays by private equity have all but evaporated due to the difficulty of securing funding
Netflix's launch in the UK & Ireland next year will be one of the major strategic business moves of the year (well, that we know about) sparking an intense battle with, among others, Sky and Amazon's Love Film.
A forced sale attracts bargain-hunting predators and top of the list is Richard Desmond, owner of Expre"
Radio has managed to completely replace the major revenue loss from the government scrapping COI advertising," said Adam Smith, Futures director at Group M.ss Newspapers and Channel 5, who has form here, having offered £1bn for the Sun in 2009.
The only media that won't be benefiting from one of Sir Martin Sorrell's fabled "maxi quadrennial" years – when events such as the Olympics, US elections and Euro occur – is, unfortunately the press market.
IPads and Kindles force newspapers further away from print
The push for digital readers have seen newspapers like the Daily Mail win 5m unique visitors a day – compared with its printed sale of 2m – but struggle to generate revenues to match
iPads and Kindles force newspapers further away from print
Economics of the digital world are only too evident to the press as handheld devices strike a death knell for old business models
Unwrapped on Sunday – according to tentative analyst estimates – an influx of portable technology that is expected to hasten a decline in the already faltering sales of printed, adding pressure on traditional business models that have traditionally supported so many titles around the country.
Publishers, preparing for the handheld arrivals, took the chance to break with a tradition that dates back to 1912, when publishers agreed not to produce Christmas Day papers to give paperboys, among others, a day off. For the first time in its 190-year history the Sunday Times published a digital-only edition on 25 December – with the normally paid for product given away in the hope of luring sought after digital subscribers.
Readers and revenues will account for more than those from the printed business. During a typical week the number of people signing on digitally is "five to 10 times" what it was a year earlier, as the newspaper looks to a future beyond print.
There are commercial pressures in national media too. Although the tabloid media have faced criticism at the Leveson inquiry, not least from the likes of Hugh Grant or Steve Coogan, popular titles remain in fair commercial health.
The Guardian may generate £40m in digital revenues from its largely free offerings, but some of that comes from its dating sites.
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