Commentary: Murdoch: Penny Wise, Pound Foolish In Asia

Say this for Rupert Murdoch: He's not afraid to cower. The Australian media mogul has spent the past five years in China backing off from his famous 1993 statement that satellite television is "an unambiguous threat to totalitarian regimes everywhere." Four years ago he pulled BBC News off StarTV's China broadcast to protect his $825 million investment in the satellite channel. Then he sold his stake in the South China Morning Post, one of the world's most lucrative papers, to avoid conflict with Beijing. Murdoch even published and hyped the anodyne memoirs of former paramount leader Deng Xiaoping's daughter.

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