Communacopia XV: Murdoch: No Spin-Off of Fox Interactive

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Goldman Sachs’ Communacopia XV conference started today in NYC, and various media CEOs are presenting. Among them, News Corp CEO Rupert Murdoch. He ruled out the possibility of a spinoff of its Fox Interactive Media unit or other divisions. “We tried that with Fox and it didn’t work,” he said, referring to News Corp.’s spin-off of a minority stake in its movie and TV business a few years ago, which it eventually bought back.
On MySpace, the company hopes to launch a China version within a year. He added that MySpace also hopes to take the market lead in online video from privately held YouTube in the next 60 to 70 days, which is wishful thinking if you ask me.
AP: He didn’t see a need to distribute programming or other media content through the likes of Yahoo and MSN. “We’re not sure the portal model is the way of the future at all…We think people are going straight to the sites.” Owning MySpace also helps.
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