An unlikely hero – the Investment Association – is wading into pension inequality with a simple, compelling propositionWhen the former Royal Bank of Scotland boss Fred Goodwin reluctantly agreed, in the wake of the bank’s collapse and nationalisation, …Read more
US pay-TV giant, which is mounting separate bid for Sky, says it is in advanced stages of offering all-cash dealComcast has confirmed it is preparing to top Disney’s $52bn (£39bn) bid for 21st Century Fox.The US pay TV giant, which is also mounting a s…Read more
Position senior to father Rupert Murdoch, who will serve as co-chairman, marks an actual and symbolic shift in the Murdoch empireLachlan Murdoch will serve as chairman and chief executive of the proposed new “Fox” company – a position senior to father …Read more
Labour deputy leader urges watchdog to discover if Fox broke laws, after raid of its offices by European commissionLabour’s deputy leader, Tom Watson, said that 21st Century Fox’s potential involvement in a sports rights cartel in Europe needed to be c…Read more
The wily media mogul finds himself in a battle to secure a Hollywood ending to his reign
Poor old Rupert Murdoch. A media titan can’t even break up his own empire these days without gatecrashers turning up to spoil the show. Comcast’s £22bn bid for Sky is bold, aggressive and cutely timed – qualities associated with Murdoch in his pomp – and, very probably, marks the start of a shootout for the UK satellite broadcaster.
The open question is who will to go head to head with Comcast. Should it be Murdoch’s 21st Century Fox, whose current £10.75-a-share cash offer for Sky has been trumped by 16% by Comcast? Or should Disney, in the process of trying to buy the bulk of Fox via a deal that includes the 39% stake in Sky, take matters into its own hands and make a direct counter-offer?Read more
The billionaire is leaving entertainment for news. That’s a worry since he indulges in trust-only-your-prejudice journalism. The UK regulator should call him out on it
It scarcely seems possible to think that Rupert Murdoch is walking away from the film and TV factories he spent a lifetime building. Yet on Wednesday the media mogul confirmed the rumours: he was out of the entertainment business – selling his Fox assets to Walt Disney, a bigger firm, in a $66bn deal. If the deal passes the regulatory hurdles, the Murdochs will be left with a 5% stake in the newly enlarged Disney company. This is a case of Mickey Mouse roaring and the Fox running. Battles are not won by retreating. Mr Murdoch has tasted defeat. He has turned away from popular culture, realising perhaps that he could not dominate the landscape as he would have liked.
Mr Murdoch did try: his studios produced the popular Simpsons cartoon and the X-Men movie franchise; he created Europe’s largest satellite TV provider; and his company ran one of India’s most-watched channels. But in a changing world he appeared like a man out of time. In entertainment the internet is undermining the dominance of mass media and handing power to new content providers such as Amazon and Netflix as well as tech giants like Apple, which plans an entertainment division. Viewers increasingly prefer to pay subscriptions to these providers for streamed content rather than for cable or satellite services. These web-based video-on-demand channels provided the must-see shows of recent years, such as House of Cards.Read more
The media tycoon has barely taken a step backwards since he rescued himself from a debt crisis in 1990
Rupert Murdoch’s retreat is pragmatic, logical and commercially clear-headed – but it is also a stunning reversal that, until this year, seemed inconceivable. The media tycoon has barely taken a backwards step since he rescued himself from a dangerous debt crisis in 1990.Read more
With Disney apparently poised to take over key Fox assets, it seems as though the Murdoch family is ceding control of its empire. What’s behind the move?
After more than 50 years of deal-making to build one of the world’s biggest media companies, Rupert Murdoch looks to be on the retreat. Cornered by the Fangs – as the tech giants Facebook, Apple, Netflix and Google are known – the ageing executive appears to have decided that its time to cash in and give up on a long-held ambition to hand his huge empire on to his children.
Until recently, Murdoch-watchers had assumed the patriarch planned to pass control of 21st Century Fox, his studio and TV business, over to one of his sons, Lachlan or James. Now the jewels in his crown look likely to be sold, with one-time rival Walt Disney in pole position to take them over.Read more
Broadcaster says competition regulator should not assume news channel will continue if Fox takeover bid is blocked
Sky has said it will review the future of Sky News if 21st Century Fox’s £11.7bn bid to take full control of the broadcaster is blocked on the grounds of media plurality.
Fox’s bid for Sky is currently being investigated by the Competition Markets Authority with particular reference to the Murdochs’ commitment to broadcasting standards, and the deal’s impact on media plurality.Read more
Shadow culture secretary says revelations about Fox News presenter make Murdoch-owned 21st Century Fox an unsuitable owner for Sky
Tom Watson is to write to the competition watchdog urging it to refuse the Murdoch family’s takeover of Sky after it emerged that Fox News gave presenter Bill O’Reilly a new contract after paying $32m (£24m) to settle a sexual harassment suit against him.
Labour’s deputy leader and shadow culture secretary said the revelations showed Fox “allowed a culture of bullying to flourish” and made its parent company, the Murdoch-owned 21st Century Fox, an unsuitable owner for Sky.Read more