December 23, 2006 |
A long-awaited agreement reached Friday in which News Corp. Chairman Rupert Murdoch gains a bigger stake in his own company by trading his satellite TV interests to former cable kingpin John Malone frees each man to pursue broader ambitions in his medium of choice. Murdoch expects faster growth in the Internet business than he does in U.S. satellite TV distribution. By solidifying control of News Corp., Murdoch can more easily seek out deals like the 2005 acquisition of the MySpace.
December 7, 2006 |
Liberty Media Corp. and News Corp. are close to a deal that would give News Corp. Chairman Rupert Murdoch bulletproof control of his company but force him to give up a 39% stake in DirecTV Group Inc., people close to the situation said. Under the deal, Murdoch would trade his portion of DirecTV for Liberty's 19% interest in News Corp. The $12-billion stake is the largest after the Murdoch family's nearly 30% holdings.
November 30, 2006 |
DirecTV Group Inc. of El Segundo, seizing on a court ruling against Englewood, Colo.-based EchoStar Communications Inc., is offering some customers of the rival satellite television service $150 to switch providers. Subscribers to EchoStar's Dish Network who are losing broadcast network channels because of the ruling also are being offered free equipment and installation, DirecTV said. The ruling gives News Corp.
November 9, 2006 |
Satellite television broadcaster DirecTV Group Inc. said Wednesday that its third-quarter profit nearly quadrupled, driven by higher revenue and a lower rate of customer defection. Shares of the El Segundo company, controlled by Rupert Murdoch's News Corp., rose $1.13, or 5.2%, to $22.97. Its earnings surged to $370 million, or 30 cents a share, in the three months ended Sept. 30, up from $95 million, or 7 cents, a year earlier. Revenue rose 13% to $3.67 billion.
November 7, 2006 |
John Malone's Liberty Media Corp. said it had made progress in talks about swapping its stake in News Corp. for a stake in DirecTV Group Inc. or other assets owned by Rupert Murdoch's global media conglomerate. Liberty also reported Monday that it swung to a third-quarter profit, driven by gains across its units. Liberty, based in Englewood, Colo., remains interested in acquiring News Corp.'
October 13, 2006 |
Liberty Media Corp. confirmed Thursday that it might swap its stake in News Corp. for a controlling interest in DirecTV Group Inc., a move that would thrust cable pioneer John Malone into the satellite television arena. Malone, Liberty Media's chairman, has been in discussions with News Corp. Chairman and Chief Executive Rupert Murdoch over making a swap for Liberty Media's approximately 20% stake in News Corp. since Malone quietly snapped up shares in 2004.
September 15, 2006 |
Rupert Murdoch spent more than a decade trying to gain control of DirecTV Group Inc., the nation's leading satellite TV operator. But the chairman of News Corp. appears willing to give that up for something he values even more: bulletproof control of his own company. Murdoch is negotiating to swap his 38% stake in El Segundo-based DirecTV to cable pioneer John Malone for the 19% voting stake in News Corp. owned by Malone's Liberty Media Corp.
September 7, 2006 |
Two Colorado senators have asked for an investigation into whether News Corp.'s refusal to agree to a $100-million settlement with EchoStar Communications Corp. last week was driven by an attempt to get viewers to switch to News Corp.'s DirecTV Group Inc. from EchoStar's Dish Network satellite TV service. Sens. Wayne Allard and Ken Salazar, in a Sept. 1 letter to the Senate Judiciary Committee, said News Corp.'
August 30, 2006 |
The family that helped launch satellite television provider DirecTV said Tuesday that it had teamed with a group of investors, including movie moguls Harvey and Bob Weinstein, to buy Ovation, a tiny cable channel devoted to the arts. Despite an already cluttered media landscape, the deal shows that investors remain interested in very specialized television channels.