Television

Murdoch earmarks $1 billion for Directv internet business

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.

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