MUMBAI: Australia's News Corp., which runs the biggest satellite-to-home TV broadcast in the US, has dropped its Spaceway venture.

The project was meant to launch advanced satellites to deliver internet access.

The company was supposed to launch an ultra-powerful spacecraft to provide broadband links to an array of businesses and residential customers as part of its Spaceway project.But the venture is now axed as the top News Corp. executives saw their latest projections of market demand and profitability failing to justify the company's original investments for the project.

News Corp. is expected to go ahead with their launching plans of the Spaceway satellite meant for TV broadcast.