Murdoch says TV ads holding up in Britain

MUMBAI (Reuters) - Television advertising in the United States is good and holding up well in Britain, while Asia is a long-term bet on the emergence of an educated and wealthy middle class, the chief of News Corp NWSa.N said on Monday.

Rupert Murdoch, who is on a visit to Mumbai, told reporters the U.S. media conglomerate plans to invest $100 million (50.7 million pounds) to launch six television channels in India, where News Corp is a leading broadcaster.

"Our advertisement on television and the Internet is very good, except for local television," Murdoch said of the U.S. market.

"Cable networks are all sold out for 12 months," he said, adding that Britain was holding up "very well".

Murdoch has warned previously that a slowdown in advertising on local television stations and newspapers would have a severe impact on media businesses.

In India, the company will launch the channels in six regional languages over 12 months, he said.

Murdoch, who created a global media empire from a pair of newspapers in Australia, has been one of the most aggressive buyers of media companies, including last year's acquisition of Dow Jones & Co for about $5.6 billion, and there has been speculation that the mogul is gearing up to buy more assets.

News Corp will more than double Dow Jones Newswires' editorial staff in India to 60-70 in the next six months from the current 25, Murdoch said.

But he is not interested in buying a stake in Indian print media as foreign ownership is capped at 26 percent.