News Corp. doesn’t plan to buy EchoStar and is focused on expandi...
News Corp. doesn’t plan to buy EchoStar and is focused on expanding online businesses, said Chmn. Rupert Murdoch. Asked by an investor at the company’s annual meeting if a deal that involves EchoStar and DirecTV, part owned by News…
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Corp., is in the works, he said: “No.” MySpace sales are doubling every 4 months, with “new media assets… are moving quickly toward profitability,” he said: “We can afford to make these investments in such high growth businesses because our established businesses are such bedrocks of steady cash.” In addition to MySpace’s collaboration with the National Center for Missing & Exploited Children to fight crimes against kids, Murdoch said, the company is in “constant discussions with parental bodies and legislators throughout the country.” Fox is transcending sagging broadcast TV ad growth amid surging online marketing, Murdoch suggested when queried on the NBC Universal restructuring (CD Oct 20 p3). “They've had a few very bad years, and their advertising has fallen” -- not the case at Fox, Murdoch said. Company executives are “very conscious” of indecency concerns, he told a Parents TV Council representative: “Perhaps there are occasions when they tip over the line, but we're doing our best.” News Corp. soon may resolve lengthy talks about Liberty Media’s stake in it, said Murdoch. News Corp.’s desire to extend a poison pill takeover defense plan that could blunt any runs at it by Liberty was approved by 57%- plus of investors who cast votes, Murdoch said, citing a preliminary tally. - JM