The chairman and CEO of one of the world's largest advertising agencies, WPP, suggests that subscription-based online content is a sound concept.

Sir Martin Sorrell thinks Rupert Murdoch has little choice but to shift into a new micropayment or subscription model online, given the attack on conventional advertising in print and online and the decline in newspaper circulation.

As for the emerging models, he acknowledges there aren't many winners, except Google, making money.

One of the world's leading advertising and media authorities says we can expect more consolidation --- not more fractures --- in the industry. And Sir Martin Sorrell of the WPP media agency asserts that the world's largest press baron's decision is right to pursue a paywall for online content.

Rupert Murdoch's initiative is the right one, Sorrell says, because "there is not enough advertising" to support these models any longer. The key is to find the right kinds of content for these paywall models.

Sorrell also believes it's important to expand media into India and China. Those markets will grow at such a clip as to bring along overall business, which he says is out of the worst of the recession but not yet at a cheque-signing phase.