Apparently the move is to recoup from more than $200 million in lost revenue for News Corp during the previous quarter, including significantly less profit from The Wall Street Journal, which Murdoch now owns.
This might become the biggest blunder yet in the newspaper industry's series of attempts to regain the ground it's lost to online media. That horse departed the barn about fifteen years ago, and it ain't coming back. The New York Times has already tried charging for access to its site: a plan that promptly went down in flames. Murdoch's scheme will likely meet a similar fate.