London, Feb 2 : Media tycoon Rupert Murdoch's newspaper and book publishing arm has planned to spend billions of dollars on video rights.
The investment comes amid News Corp moves to split off its valuable television and film assets from its slower-growing publishing operation.
It will be spun off into a separate public company retaining the News Corp name.
The "new News Corp", as it is currently known, has set aside one billion dollars to fuel the spending spree, but is understood to be in discussions to increase that figure to 3billion dollars, the Telegraph reports.
According to the paper, it will apparently use the money to experiment with new digital ideas .that will help to spur growth at the company, as well as for buying up digital companies and video rights.
Earlier this month, News Corp's UK newspaper operation, News International, bought the rights to show highlights of Premier League football games.
According to the paper, sources said it planned to make more investments of that sort, which the business can use to charge customers more for its content. (ANI)