Indian Internet Is Not So Enticing For News Corp; “But It’s A Matter Of Time”
International media giant News Corp does not see Indian internet space attractive as of now for one reason - internet penetration is yet to take off. Michelle Guthrie, CEO of Star (a 100 per cent subsidiary of News Corp) told DNA newspaper on Tuesday that the Group is not looking at immediate investments in Internet properties in India.
“India is at a different stage of development. The level of PC penetration is quite low in the country,” Guthrie said, on the sidelines of the India Economic Summit. “It is a matter of time,” she said. Guthrie was responding to a query on whether Star would make Internet investments in India, in line with News Corp chairman Rupert Murdoch’s strategy.
During the past few months, News Corp and its subsidiaries made investments of over $1 billion in acquiring Internet assets, beginning with purchase of MySpace.com parent company Intermix. (Via ContentSutra)
