Many companies have poured billions into building streaming platforms that have yet to turn a profit. FOX Corp. was never in the group, and Lachlan Murdoch suggested you won’t see it join that fray anytime soon.
While speaking at a conference hosted by Morgan Stanley Monday, Murdoch remained steadfast in his approach that streaming isn’t likely to upset the company’s existing pay-TV business with properties like Fox News and Fox Business Network.
“We’re not going back into the arena. We’re out of the streaming arena, from an entertainment perspective,” Murdoch said, per Deadline. “In the entertainment streaming wars, the arena is like a sea of blood. Everyone’s bled out and we’re happy not to engage in it.”
Murdoch continued by noting the company will continue to embrace its linear roots and emphasize the live news and sports it produces, but added that “we’ve always said we’re distribution agnostic.”
