News Corp’s Lachlan Murdoch: ‘China is a tough market for foreign content producers’
Lachlan Murdoch, the co-chairman of News Corporation, suggested at Mumbrella’s conference in Sydney today that India is an easy and more lucrative market than China.
When asked about Asia by his interviewer, GroupM Australia boss John Steedman, Murdoch said that Chinese regulators had affected the company’s fortunes.
News Corp’s flagship business in Asia is the satellite TV operation Star TV, but News backed out of China at the start of the year when it sold its 47 per cent stake in Star China TV.
“For Star TV, the driving force is India today. We’re doing very well there.”
“China is a tough market, particularly if you are a content producer. So we’re predominantly out of that business now,” he said.
Lachlan Murdoch is widely tipped to be the successor to his father, Rupert, to take control of News Corp.
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