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Murdoch's News Corp abandons plans for TV news channel in Britain

April 27, 2021 at 02:21 pm EDT

(Reuters) - Rupert Murdoch's News Corp has abandoned plans to launch a traditional TV news channel in Britain after deciding it was not commercially viable, an emailed memo to staff shows.

News Corp had been exploring opportunities in the TV market for content from News UK, its British newspaper publisher, over the past 18 months News UK Chief Executive Rebekah Brooks said in the memo.

It had hired David Rhodes, a former president of ViacomCBS owned CBS News, to consult on the process.

"We determined early on in that review that it was not commercially viable to launch a traditional news channel on linear TV," Brooks said.

"Whilst there is consumer demand for alternative news provision, the costs of running a rolling news channel are considerable, and it is our assessment that the payback for our shareholders wouldn't be sufficient," she added.

"We need to launch the right products for the digital age," Brooks said in the memo, which was first reported by The Spectator on Tuesday.

Rhodes will leave the company in June.

(Reporting by Helen Coster; Editing by Alexander Smith)

By Helen Coster

Keith Murdoch

Keith Rupert Murdoch is a businessperson who founded TFCF Corp. and who has been the head of 11 different companies. He occupies the position of Co-Chairman for Fox Corp., Executive Chairman for Fox News Network LLC (a subsidiary of Fox Corp.), Executive Co-Chairman at News Corp., Chairman & Chief Executive Officer of Ruby Newco LLC (a subsidiary of News Corp.), Chairman at Sky Global Holdings, Inc. and Executive Chairman at FOX Business Network. Mr. Murdoch is also on the board of STAR Group Ltd. and The Partnership for New York City. Keith Rupert Murdoch previously occupied the position of Executive Co-Chairman at TFCF Corp., Executive Chairman of News Corp Australia Pty Ltd., Chairman at The DIRECTV Group, Inc., Chairman & Chief Executive Officer for Fox Entertainment Group, Inc. and Chairman for Dow Jones & Co., Inc. He received an undergraduate degree and a graduate degree from Worcester College.

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