Murdoch would prefer investing News Corp’s billions in US than UK

London: Media tycoon Rupert Murdoch has said he would prefer to invest his media firm News Corp's billions of dollars of cash in America than Britain as he plans to distance himself from his disgraced newspaper business.

Murdoch, 81, said his thinking had ‘moved on’ when asked whether News Corp would consider another bid for the rest of BSkyB, the UK's largest pay-TV company.

“There are billions and billions of dollars, and if Britain didn't want 'em, there are plenty of good places to put them here (in the US),” he told Fox Business.

“I'm much more bullish about America than I am about England,” Murdoch added.

According to The Telegraph, Murdoch also confirmed plans to carve the company into two separately listed businesses.

The News Corp's chief executive and chairman, however, claimed that the move had ‘nothing whatsoever’ to do with phone hacking at the News of the World.

The move to split the company came after News Corp’s board voted unanimously to approve a plan that will take a year to complete.

Murdoch will remain as chairman of both companies, but he will only be chief executive of the unit housing News Corp’s television and entertainment assets.

ANI