While ad sales in the U.S. tumble, Rupert Murdoch is taking great pains to point out that his News Corp. is a global company. He joined yesterday’s earnings call (after some difficulty) from Beijing, and spent much of the call talking up his growing interest in India. But there’s one country Rupert says he no longer wants anything to do with: Russia, where News Corp. (NWS) is selling its stake in an outdoor advertising company. From yesterday’s call:
“We have great growing business there but just — this is purely me, I’m sorry, I’m — the more I read about investments in Russia, the less I like the feel of it. The more successful we’d be, the more vulnerable we’d be to have it stolen from us, so there we sell now.”
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