Rupert Murdoch Wants to Buy the Company That Owns HBO and CNN
It's merger mania, with AT&T going after DirecTV and Comcast looking to gobble up Time Warner Cable -- not to be confused with Time Warner Inc., another cable company that is now the object of Rupert Murdoch's appetite.
It’s merger mania, with AT&T going after DirecTV and Comcast looking to gobble up Time Warner Cable — not to be confused with Time Warner Inc., another cable company that is now the object of Rupert Murdoch’s appetite.
The media mogul, who owns numerous cable channels, TV stations, newspapers and the most successful movie studio in Hollywood, has reportedly offered $75 billion.
Bloomberg has a source that says Fox would sell off CNN (the company already owns Fox News) to appease regulators, but that probably won’t be enough. The combined company would give Murdoch a huge negotiating advantage with content providers (the aforementioned Comcast and AT&T) and theater operators (Time Warner Inc. owns Warner Bros., the second-most successful studio this year).
Fox is expected to argue that it must gain leverage if it is to contend with even more massive cable providers, but it would be easier to just say no to all the deals on the table and let competition rule. Perhaps Murdoch’s bid is a brilliant maneuver to scuttle those other mergers.
Speaking of mergers, let’s not forget that Sprint is still trying to buy T-Mobile.
— Posted by Peter Z. Scheer
Your support matters…Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Media
As the network lurches further to the right, its ratings hit new lows.
Editorial Cartoons
Editorial Cartoons
Corporate media seem unable to process the idea that a U.S. politician has something positive to say about Cuba and Nicaragua's governments.
Climate change, inequality and our broken health care system pose unprecedented challenges. Only two candidates are prepared to meet them.
The network's pundits are near tears, lamenting that they don't understand the country anymore.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.