News Corp Faces Difficulty In China
Written by JDPGlobal | Thursday, 01 December 2005
The Financial Times reported that Star Group, the unit of News Corp is likely to continue with their losses in China as there have been no significant earnings for the company in the past two years. They are leaning on the Indian business to carry out the operations. A Hong Kong newspaper said that the Star Group is already entering the Chinese TV market, however, the regulators are being the major obstacles.
The chief executive of Star Group told reporters that their aim is to make a viable business and not earn a dollar. The Media giant head Rupert Murdoch said that China is being paranoid about the foreign media. However, there are no plan to move out of China and they will invest based on the operations carried out in India.
However, Star feels that their stay in China will last longer than some of the foreign companies. In five years Star will still be in China. Moreover, they do not want to lessen the investments as it is a thing for the future.
