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Peter Chernin, President and COO of News Corp (NASDAQ:NWS) revealed in the company's earnings conference call that NWS has no interest in acquiring YouTube at this time:

Cecile Dorat – Bloomberg News

Yes, I was wondering whether you are looking at other acquisitions in the digital area; and in particular YouTube the video site has been mentioned. Would you be interested in it?

Rupert Murdoch

No. We don't think so. We already have about 55% as many as they do of downloads of videos and we expect that to increase as we improve that part of MySpace. We are working hard at that right now.

Cecile Dorat – Bloomberg News

Okay. So you're not looking at other acquisitions at this stage?

Rupert Murdoch

Certainly no significant ones.

Peter Chernin

I think just to echo what Rupert said, I think our main strategy right now is the more time we spend with it, the more potent we realize MySpace is and it's a great opportunity to build continued applications on top of MySpace just as they've done with video in such a short time, to really begin to rival YouTube.

So we're really looking more than anything about continuing to invest in MySpace rather than making big additional acquisitions.

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  • Source: News Corp: We're Not Interested in Buying YouTube