MUMBAI: James Murdoch has reiterated the importance of India as a market for News Corp.

Murdoch believes pay TV operators in the country will consolidate over time due to regulatory changes.

?India is a very important market for us, it?s one of our largest international markets," Murdoch, the Deputy COO of News Corp said at an investment conference in San Francisco.

He is also satisfied with the progress being made in South America. "We?ve also made great strides in South America over the last few years, particularly the launch of our sports business there," he added.

Murdoch also stated that the investment in UK pay TV service provider BSkyB, which News Corp un-successfully tried to buy out, is an unfinished business.

News Corp in the recent years has been trying to streamline its overseas businesses that aren?t consolidated.

Last month, the company increased its stake in German pay-TV company Sky Deutschland (SKYD), giving it majority control and putting it a step closer to creating a pan-European broadcaster.