Old habits die hard. Rupert Murdoch believes that the future of the newspaper business is subscriptions—electronic subscriptions. He’s done with giving away his news for free on the Web and to search engines like Google. Instead thinks that Kindle-like tablet computers can save the media industry. It’s a notion that’s been floated before: an entire newsstand in a color tablet which delivers electronic versions of any newspaper or magazine you want for a monthly subscription of $15 to $19 a month.

It’s got to work, otherwise, he warns from his soapbox, “Newspapers will go out of business. All newspapers.” In an interview on his own Fox Business (embedded below), he explains his thinking:

ALEXIS GLICK: ARE YOU CONVINCED IT IS GOING TO WORK?

RUPERT MURDOCH: SURE.

ALEXIS GLICK: WHY?

RUPERT MURDOCH: WE TEST MARKETED IT AND PEOPLE I THINK UNDERSTAND THAT IT’S PERFECTLY FAIR THAT THEY ARE GOING TO PAY FOR IT. IF IT DOESN’T, THE NEWSPAPERS WILL GO OUT OF BUSINESS. ALL NEWSPAPERS. THERE IS JUST NOT ENOUGH ADVERTISING TO GO AROUND FOR ALL THE SITES ON THE INTERNET. THE NUMBER OF SITES AND AVAILABILITY OF ADVERTISING ON THE INTERNET, THE AVAILABILITY DOUBLES AND TRIPLES EVERY YEAR BUT THE AMOUNT OF REAL MONEY GOES UP 10 OR 15% A YEAR. THE PRICE OF IT KEEPS COMING DOWN.

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