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Well, I don't buy his rags. But a lot of people do. More importantly, he exercises his political sway very directly through those papers. He can and has brought down prominent politicians and swung elections.
It is said that one of the most influential parts of the election campaign in 1992, was the front page of the Sun with headline 'last one out of Britain, remember to turn out the lights' along with a picture of the Labour leader.
The problem is that tabloid media is incredibly influential here. So the politicians end up over a barrel having to court that media. I cannot emphasise enough how big a part of our politics and culture the print media is. This was less of a problem when the print media was divided up between several stables. Even I was not aware of how extensive Murdoch's reach actually is. He controls most of the print media. Whoever controls the print media, largely controls British politics.
This isn't just a case of people wanting gossip and so buying the nasty rags. (though it is that) Print media has always had a massive role in our public life. And Murdoch doesn't just own tabloids rags either.
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