He wants to combat plummetting newspaper sales revenues by charging for the online versions of The Sun, The News Of The World and The Times. He thinks The Sun's audience is comparable to that of the Wall Street Journal (in terms of willingness to pay for online content) and he's rejecting the Facebook model for the failing MySpace because "facebook has millions of customers but they don't bring in any advertising".
Whoosh!
"What was that?"
"That was the rest of the world, Mr Murdoch"
Link