The summit is due to take place on Friday and Saturday in Carmel, near Murdoch's Californian ranch, and comes following the announcement that News Corp is prepared to spend up to $2bn (£1.1bn) on internet acquisitions as it seeks to rival internet companies such as Yahoo!.
Since the first summit in February, Murdoch agreed to pay $580m in cash to acquire the online company Intermix Media, which operates .
The takeover has been hit by a lawsuit by shareholders, through lawyers Kreindler & Kreindler in Los Angeles, which alleges that the directors of Intermix engineered the sale to News Corp so that it benefited them at the expense of public shareholders.
News Corporation has also acquired Scout Media, a sports website company and Realestate.com.au. It is understood Murdoch is also in talks to buy Blinkx, a video search engine.
Murdoch told newspaper editors earlier this year that he thought the news media had not moved fast enough towards digital activities and needed to meet the demands of the "iPod generation".
This week Saudi Arabian Prince Alwaleed bin Talal, the world's fourth richest men, showed his support to News Corp by converting his non-voting shares in news Corporation to a 5.46% stake of the voting shares. He also implied he may buy more in the future.
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