Rupert Murdoch told analysts at a conference yesterday that he sold his stake in DirecTV Group to Liberty Media because he was concerned about the satellite provider’s ability to compete against cable and telco providers’ triple play of voice, video and data services.
According to a story by the Associated Press, Murdoch, the chief executive of News Corp., said at yesterday’s Goldman Sachs Communacopia Conference in New York that DirecTV has fared better than he thought it would because of its high-definition (HD) offerings since Liberty Media purchased his company’s 41 percent stake in February.
Murdoch thought DirecTV would be more adversely impacted by triple-play packages in the short term, and he still thinks it could be down the road.
"So I might have been wrong. I don't think I'm wrong in the long term, but in the short term, I might have been wrong,” Murdoch said at the conference.
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