Murdoch Unloads China TV Business

News Corp 'giving up on China,' analysts say
By Rob Quinn,  Newser Staff
Posted Aug 10, 2010 5:00 AM CDT
Murdoch Unloads China TV Business
Rupert Murdoch gave a speech in China last year calling for a more open media industry.   (AP Photo/Nati Harnik)

Rupert Murdoch's News Corp. stepped up its retreat from China yesterday with the sale of a controlling interest in three TV channels to a government-backed fund. The company insists that it plans to maintain a strong presence in China but analysts believe the move signals that News Corp., frustrated by interference from Beijing, has finally given up on its hopes of building a broadcasting business in the country, the Independent reports.

News Corp. Asia and Europe CEO James Murdoch, Rupert's son, "doesn’t believe that they can build a business in China," an industry executive tells the Financial Times. "This is a clear sign that they aren’t interested in China anymore, but they can’t say that.” (Read more News Corp stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.