News Corp. chairman Rupert Murdoch spoke at the NCTA’s Cable Show convention in Washington, D.C. yesterday. And while he’s not hopeful about an economic turnaround in the near term, “I don’t think anyone has the answer if we’re coming out of it this year, next year or in five years’ time,” Murdoch does like what he sees in his cable channels.
“We find our cable channels are doing very well,” he said, because advertising dollars are flowing out of the Big Three broadcast networks because they can’t supply the audiences they one did and they charge more per impression than cable networks do. “Money is flowing into nationally distributed cable channels,” he said.
Insiders tell TVNewser Murdoch also stopped at Fox News’ DC bureau before heading to the convention.