(Image: AAP/Joel Carrett)

News Corp's regional and local network shuttered. Its campaigning newspapers increasingly unbought in print, and falling out of the top 10 digital destinations for news. Foxtel in financial (and audience) collapse. Sky with telephone booth audiences. 

Time to mix up fairy-tale analogies and ask: who's afraid of the big, bad wolf when he has no clothes? 

Last week’s corporate restructure revealed that News Corp is losing the battle for an internet-centred business model. Worse, it’s already lost the more important fight: the war for attention.