Liberal parents might want to start considering home schooling their kids, because when there’s money to be made, News Corporation isn’t far behind. Russell Adams and Jessica Vascellaro team up on an article in the Wall Street Journal about how the media giant recently invested $360 million in Wireless Generation, a Brooklyn-based tech company that specializes in software for teachers. Rupert Murdoch has brought in Joel Klein, the outgoing city school chancellor, to oversee the education venture for News Corporation.
The company’s Chief Operating Officer, Chase Carey, says that the education market has been extremely sluggish to adapt new technologies, so News Corporation will proceed with a great amount of caution.
However, if Murdoch is correct in his statements that the industry is worth almost $500 billion per year, FishbowlNY expects the company won’t hesitate to speed things up. We expect textbooks converting to more New York Post-like titles within the year. “Beginning Mathematics” will become “1 + 1 = Tons o’ Fun” and so on.