Satellite : Rupert Murdoch says he 'might have been wrong' to drop DirecTV

[buffman]

Rupert Murdoch says he 'might have been wrong' to drop DirecTV
2 hours ago

LOS ANGELES — Rupert Murdoch says he "might have been wrong" in selling off a 41 per cent stake in DirecTV Group Inc. to John Malone's Liberty Media Corp. in February.

The chief executive of News Corp. says the satellite TV company has held up better than expected against the "triple play" threat of TV, Internet and phone services offered by cable and phone companies, partly because of its high-definition channel offerings.

Murdoch told analysts at the Goldman Sachs Communacopia Conference in New York on Wednesday: "I thought it was going to be more affected by the 'triple play' and everything than it has been."

"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."

The conference was broadcast online.