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
Rupert Murdoch gave a speech in China last year calling for a more open media industry.   (AP Photo/Nati Harnik)

(Newser) – 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.”
 

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