Manori Ravindran International EditorRupert Murdoch’s News UK has backpedaled on plans to launch a Fox News-style U.K. news channel.
Instead, the venture will be reimagined as a streaming offering.News UK CEO Rebekah Brooks outlined the company’s content strategy in a staff memo, seen by Variety.
The long-time Murdoch associate explained that “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.
We need to launch the right products for the digital age.”The executive made clear that plans for a channel were ruled out early in an 18-month-long exploration of the TV market.
Read more on variety.com