Murdoch Declines to Address Reports About Asset Sales

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With rumors that a major sale of television assets is imminent, 21st Century Fox CEO James Murdoch said it would be wrong to comment on market speculation.

Speaking at the USB Communications Conference in New York Tuesday, Murdoch declined an initiation to discuss the asset sales reports, which indicate that Fox would sell assets including its cable networks, movie and TV studios, some of its international business and its regional sports networks to the Walt Disney Co.

“It would be wrong to comment on market speculation,” said Murdoch, citing company policy, so there’s nothing to add to that.”

But he added that “the way we’re running the business is about value, long-term value.”

He added that the shape of the business that management was aiming for was “what’s going to create the most value for our shareholders.”

Related: Analyst Likes Possible Deal Between Disney and Fox

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.