Netflix CEO Reed Hastings, speaking at the New York Times DealBook Conference, firmly denied that Netflix would be entering the news business.  The denial came about following comments from Netflix’s content chief Ted Sarandos who had seemed to suggest that Netflix would happily compete head-to-head with on-line TV newcomer Vice.

Hastings clarified the position, telling delegates at the conference that “You don’t want to invest in things that are dying”. He said Netflix would be looking closely at creating documentaries but would not be covering live news or reporting. He also confirmed Netflix has no plans to offer sport.

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