Murdoch sights on online ads

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The media giant plans to buy ad space from website operators, find marketers to fill the space and distribute the ads.

It has set up a web-based ad operation within its Japanese business and may seek to acquire Japanese online advertising agencies, the reports say.

News Corp seeks to increase its annual global online ad revenue to nearly $500 million (£252.7 million) over five years.

The move comes as media and online leaders grapple with the internet's increasing fragmentation.

Media companies have recouped only a small fraction of what they have lost in print ads and many online firms, with the exception of Google, are seeing revenue growth slow as online audiences fragment.