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James Murdoch: We’re in a ‘Silly Land’ in the Video Business

James Murdoch wants you to know that he is in the media business. It’s an obvious statement from a man who sits atop a $50 billion media company with a global cable, broadcasting and film footprint.  

But, as tech companies invest billions in programming to lure customers to their businesses, the CEO of 21st Century Fox doesn’t want there to be any confusion. “Giving away TV shows with priority mail on toaster ovens is not the media business,” he says. “Making what we used to call TV movies and not releasing them in theaters and expecting to go to the Oscars is not the movie business. It's the TV movies business.”