Rupert Murdoch’s 21st Century Fox Buys Remaining U.K. Sky Stake

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York June 11, 2015. REUTERS/Eduardo Munoz/File Photo

NEW YORK/LONDON (Reuters) — Rupert Murdoch’s Twenty-First Century Fox Inc. has struck a preliminary deal to buy the 61 percent of British pay-TV firm Sky PLC it does not already own for around $14 billion, five years after a political scandal wrecked a previous bid.

The proposed offer of £10.75 a share in cash, which is backed by Sky’s independent directors, would strengthen the position of James Murdoch — who is both chief executive of Fox and chairman of Sky — in his 85-year-old father’s media empire.

People familiar with the matter said Fox had pounced after Britain’s vote to leave the European Union in June sent the pound down about 14 percent against the U.S. dollar and Sky’s share price tumbling.

Owning Sky would give Fox, whose cable networks include Fox News and FX, control of a pay-TV network spanning 22 million households in Britain, Ireland, Austria, Germany and Italy.

It would also be the latest deal to marry distribution with content after AT&T Inc. announced an $85 billion bid to buy Time Warner Inc. earlier this year. While Sky does produce some of its own content, including in news and sport, the deal would give Fox full ownership of a wider distribution platform in Europe.

“Fox has always seen its 39 percent stake in Sky as an unnatural state of being and has long been trying to buy full control,” a person familiar with the deal said. Read the rest of this entry »


Brian Lowry: Rupert Murdoch History: Fox Head Was the Original Disruptor

***EXCLUSIVE*** Portrait of Rupert Murdoch, international media executive, January 31, 1977 in New York City. (Photo by Arnold Newman/Getty Images) writes: “Disruptive technology” has become one of the favorite buzz phrases in today’s media environment, referring to innovations that have rapidly reshaped the industry. Yet long before many of those gadgets came into being, Rupert Murdoch was, in many ways, the great disruptor.

At first blush, it’s strange to think of Murdoch — who was 56 years old when the Fox network made its primetime debut in 1987 — as some sort of renegade. As the head of a major media conglomerate, he’s been a firmly entrenched part of the establishment.

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Through the series of deals on which he built Fox, however, as well as the expansion of the studio, Murdoch has seldom been bound by convention. Read the rest of this entry »


Oh Hell, Everybody in Media Donated to the Clinton Foundation: Here’s a List

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Clinton Foundation donors include dozens of media organizations, individuals

Josh GersteinTarini PartiHadas Gold and Dylan Byers report:

…The following list includes news media organizations that have donated to the foundation, as well as other media networks, companies, foundations or individuals that have donated. It is organized by the size of the contribution:

$1,000,000-$5,000,000

Carlos Slim
Chairman & CEO of Telmex, largest New York Times shareholder

James Murdoch
Chief Operating Officer of 21st Century Fox

Newsmax Media
Florida-based conservative media network

Thomson Reuters
Owner of the Reuters news service

$500,00-$1,000,000

Google

News Corporation Foundation
Philanthropic arm of former Fox News parent company

$250,000-$500,000

Houghton Mifflin Harcourt
Publisher

Richard Mellon Scaife
Owner of Pittsburgh Tribune-Review

$100,000-$250,000

Abigail Disney
Documentary filmmaker

Bloomberg Philanthropies

Howard Stringer
Former CBS, CBS News and Sony executive

Intermountain West Communications Company
Local television affiliate owner (formerly Sunbelt Communications)

$50,000-$100,000

Bloomberg L.P.

Discovery Communications Inc.

George Stephanopoulos
ABC News chief anchor and chief political correspondent

Mort Zuckerman
Owner of New York Daily News and U.S. News & World Report

Time Warner Inc.
Owner of CNN parent company Turner Broadcasting

$25,000-$50,000

AOL

HBO

Hollywood Foreign Press Association
Presenters of the Golden Globe Awards

Viacom

$10,000-$25,000

Knight Foundation
Non-profit foundation dedicated to supporting journalism

Public Radio International

Turner Broadcasting
Parent company of CNN

Twitter

$5,000-$10,000

Comcast
Parent copmany of NBCUniversal

NBC Universal
Parent company of NBC News, MSNBC and CNBC

Public Broadcasting Service

$1,000-$5,000

Robert Allbritton
Owner of POLITICO parent company Capitol News Group

$250-$1,000

AOL Huffington Post Media Group

Hearst Corporation

Judy Woodruff
PBS Newshour co-anchor and managing editor

The Washington Post Company

Politico


Endangered: 40% of Journalists are Out of the Profession at End of 3rd year, 70% by Year 5

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Ratings: ‘That’s the kind of beating which is generally reserved for red headed stepchildren’

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New York Times Magazine forced to admit that Megyn Kelly might be great at her job

Over where the Air is nice and HotJazz Shaw writes:

This piece from New York Times Magazine wouldn’t be all that remarkable were it not for who was writing it and who the subject was. It’s a rather rare moment when anyone from the elite enclaves of their Manhattan offices comes down to Earth and actually has something nice to say about any of the Fox News crew, and it’s a surprisingly candid and positive piece about evening desk host Megyn Kelly. But even for the honest appraisal, the author can’t seem to help acting surprised that Kelly actually takes people to task from both sides of the aisle in what he calls a “Megyn Moment.”

For those unfamiliar with the phenomenon, a Megyn moment, as I have taken to calling it, is when you, a Fox guest — maybe a regular guest or even an official contributor — are pursuing a line of argument that seems perfectly congruent with the Fox worldview, only to have Kelly seize on some part of it and call it out as nonsense, maybe even turn it back on you. You don’t always know when, how or even if the Megyn moment will happen; Kelly’s political sensibility and choice of subjects are generally in keeping with that of the network at large.

Kelly reading a tweet from punditfromanotherplanet right before she goes on the air.

Kelly reading a tweet from punditfromanotherplanet right before she goes on the air.

But you always have to be ready for it, no matter who you are. Neither Karl Rove nor Dick Cheney have been spared their Megyn moments, nor will the growing field of 2016 presidential aspirants, who can look forward to two years of interrogation on “The Kelly File.” The Megyn moment has upended the popular notion of how a Fox News star is supposed to behave, and led to the spectacle of a Fox anchor winning praise from the very elites whose disdain Fox has always welcomed. In the process, Kelly’s program has not just given America’s top-rated news channel its biggest new hit in 13 years; it has demonstrated an appeal to the younger and (slightly) more ideologically diverse demographic Fox needs as it seeks to claim even more territory on the American journo-political landscape.

The article also notes that the work of Roger Ailes has really paid off for the parent company in terms of return on investment. Read the rest of this entry »