Speaking at The Cable Show, an annual cable TV event in the US, Murdoch said the increase in free content online is damaging the newspaper industry.
He said: "Nobody is making money with free content on the web, except search. People are used to reading everything on the net for free and that's going to have to change."
Murdoch also suggested the New York Times, a rival of News Corp's Wall Street Journal, might have to charge for its online service.
He said: "The inventory of display advertising on the web is doubling every year. They're never going to make money on an advertising model to replace what they're losing."
On the economy, Murdoch said: "The long-term situation is still very negative. I'm slightly more pessimistic because I think every family - rich and poor - is poorer than they were a year ago and they're being thriftier."
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