New York - News Corp. chairman Rupert Murdoch was optimistic about a coming economic recovery, telling an audience at an industry conference here that he is beginning to see some signs of recovery, fueled by its cable channels and improvements at its broadcast unit.
Murdoch had called a bottom to the dismal ad market in News Corp.'s last quarterly conference call with analysts. Now he believes the upturn is here.
"A couple of months ago, I was daring enough to say that I felt we hit bottom," Murdoch said at the Goldman Sachs Communacopia conference here Tuesday. "We certainly feel that very strongly at the moment, particularly in the last few weeks. There has been plenty of advertising activity at the cable channels, film is doing very well. We're well ahead of last year."