While I am not his number one fan I can understand why Murdoch is upset. His whole business in under threat from online content. How would Google feel if they were being similarly threatened?
Too bad, its called a free market.
If he had really valuable content, he could put up a pay wall. The problem with his content is that you can get it for free elsewhere, and it is, at best, just plain news (at worst, it is distorted news). If he wants to charge, he needs to ad value.