MUMBAI: News Corp chairman & CEO Rupert Murdoch has said the group’s satellite platform Directv might spend up to $1 billion to enter the high-speed Internet business.
Speaking at a Citigroup investors conference, Murdoch said Directv and News Corp. were exploring possible partnerships to offer the satellite platform’s subscribers high-speed Internet access as part of a bundled package.
“You’ll be hearing from us within two months on a very clear plan for what will happen, and it’s not as expensive as you might think,” Murdoch has been quoted in a Bloomberg report as saying.
Speaking about the plans to deliver content online and on other platforms, Murdoch said, “Big companies like ours, big industries with fixed business models, have to change. And we’re preparing ourselves for that.”
In the US, Cable giants lready offer their service with high-speed Internet access. News Corp. ramped up its internet business in 2005 with several acquisitions, including that of the social network portal MySpace.com.
Tag: internet business
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Murdoch earmarks $1 billion for Directv internet business
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Star, Sony scout for people to head their dotcom operations
After going all out to jump into the Internet bandwagon, media companies are now hunting for people to head these ventures. Both the channels have given typical dotcom ads in classifieds section of newspapers.
Star TV has already made investments in quite a few portals. Sony is also rumored to have acquired a stake in the site freshlimesoda.com.
Besides investments in other portals the media companies are also looking at bringing convergence in their own backyard, and hence this rush for dotcom professionals.
While Sony is looking for someone as Head- Internet business and Head- Communication Technology, Star is looking at a much wider range of people. And of course, the pay packets would be hefty – the dotcom way.