James Murdoch told a Fortune-organised dinner in Aspen that he is not afraid of making mistakes, and that 21st Century Fox had no intention of taking full control of BSkyB. As to the mistakes, he told dinner guests that “If you become paralysed by your failures, you won’t grow.”

“We have no intention of bidding for the rest of BSkyB today or in the near future,” according to a transcript of his remarks. “We have no plans about that.” 21st Century Fox also doesn’t plan to sell its stake though, he emphasised.

Murdoch then ran through a series of corporate missteps, not least the News of the World hacking problems, the launch of News Corp’s The Daily and the $580 million purchase of MySpace.

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