Rupert Murdoch, the CEO of News Corp., said that media sector have to take more risk to build strong foundation in the Middle-East. Opening media sector for the foreign players and reducing censorship are the way outs for the media sector to flourish in the region.

He obliquely tried to get help from the Dubai's rulers for expanding News Corp business in the growing Middle East market. Many other leaders like Google CEO Eric Schmidt, AOL CEO Tim Armstrong and Warner Bros CEO Barry Meyer also expressed similar sentiments at the inauguration ceremony of Abu Dhabi Media Summit held in Abu Dhabi, the capital of oil rich Abu Dhabi.

Abu Dhabi has been working out plans to reduce its dependence on oil and gas by diversifying its portfolio. The country tried to convey the message by holding summit at the Yas Hotel on Abu Dhabi's Yas Island that the country has both ambitions and capital to pursue its goals.

Asus Chairman Jonney Shih and Chipmaker AMD CEO Dirk Meyer asked for the need to redesigning of business models due to changing pattern of fetching contents using notebooks, table books and Smartphones.