Broadcasting

Qatar’s hunger for soccer poses new pay TV threat

23 Jun 2011

Al Jazeera's bid for domestic rights to French football has robbed existing owner Vivendi's Canal+ of a bargain deal. Even if it is hard to see how the Qataribacked broadcaster will generate a return, its bold incursion could cost Europe's commercial operators dear.

BSkyB could prod News Corp to bid 30 percent more

3 Jun 2011

The UK broadcaster's shares suggest investors expect a much better offer from Rupert Murdoch. News Corp has vowed discipline, but wouldn't be crazy to lift its mooted bid above 900p a share upon state clearance. Failure would cost Murdoch, and BSkyB is generating cash at last.

Murdoch’s remedy for News Corp/BSkyB falls short

3 Mar 2011

A spinoff of Sky News will limit News Corp's stake in the unit to 39 pct, but Murdoch's history provides little reason to believe mechanisms to protect editorial independence will be effective. For shareholders, the lack of financial detail in the agreement is also a worry.

Murdoch shines a light on succession plans

21 Feb 2011

Rupert Murdoch's News Corp is paying a full price $663 mln for Shine, the TV firm founded by his daughter Elisabeth. Minority shareholders may sigh. But with Elisabeth among the candidates to succeed her father, the deal may be beneficial for the overall succession process.

Putin’s associates graduate to oligarchy

16 Feb 2011

The sale of 25 percent of broadcaster Channel One to banker Yuri Kovalchuk highlights the rising prominence of a group of businessmen, reputed to be old associates of the Russian premier. Next year's approaching presidential election may explain their emergence from the shadows.

Nielsen clover no sure sign of more mega-LBO green

26 Jan 2011

Private equity firms will be encouraged by the TV rating giant's $1.6 bln IPO. But the idea it will unleash a kraken of credit bubble buyouts looks a stretch. Nielsen at least had the makings of a decent investment story. Others from the great leveraged era aren't so appealing.

News Corp inches closer to BSkyB victory

25 Jan 2011

The UK culture minister's deferral of a full probe into the media giant's bid opens the possibility of a restructured offer getting cleared outright. The government may say it's just playing by the book. But other than perhaps extending the timetable, it's all good for News Corp.

News Corp’s Sky bid gains in Cable’s Murdoch war

21 Dec 2010

Bellicose remarks by the UK minister with the power to block the deal may actually increase the chances that it's cleared especially if regulators fail to make clear recommendations. Plus the Telegraph suffers for its apparent selfcensorship of Cable's comments about a rival.

Bankers can only hope to be like Howard Stern

9 Dec 2010

The bawdy U.S. radio host signed up with Sirius XM for another five years after some tense moments. Though terms weren t disclosed, the market added more than $300 mln to the company s value. Bankers like to think they're indispensable, but few matter that much to their firms.

Murdoch’s threat to UK looks desperate

18 Nov 2010

It is hard to see how News Corp could significantly move investment abroad if the government blocks the media conglomerate's bid to buy the 61 pct of BSkyB it doesn't already own. James Murdoch's tactics suggest that News Corp is worried.

BSkyB looks undervalued

12 Oct 2010

Despite protests from rivals, News Corp s offer to buy the 61 pct of the payTV operator it doesn t own is likely to succeed. If so, BSkyB shares might be worth around 10 pct more than their current price. But if Murdoch s bid is blocked, BSkyB investors have little to lose.

Sirius investors should heed the Pandora challenge

5 Oct 2010

The top dog of music streaming websites may challenge satellite radio s monopoly. Why pay a monthly subscription when it s free, and more tailored, on a smartphone? Sirius has a big content edge that looks hard to beat. But it may eventually need to consider a defensive deal.

Univision owners script a telenovela-worthy twist

5 Oct 2010

Buyout firms larded on debt to acquire the U.S. Spanishlanguage broadcaster in 2006 for $13.7 bln, fending off rival suitor Televisa. The Mexican group is avenging its loss by buying in at a 40 pct discount. For current owners, the upside is a better chance at a happy ending.

Comcast needs to show it’s ready for prime time

24 Sep 2010

The cable giant has pushed out Jeff Zucker, who failed his way up to running NBC Universal. There, he presided over a latenight programming debacle and a 30 pct drop in profit. His replacement, Steve Burke, is a respected Comcast manager. But both are unproven in programming.

Hacking row may complicate News Corp’s BSkyB deal

16 Sep 2010

Revelations about illegal eavesdropping by one of the media group's tabloids has drawn attention to Rupert Murdoch's influence in the UK. That may complicate his $19 bln plan to take full control of the payTV operator. A drawnout regulatory enquiry looks increasingly likely.

Murdoch’s China retreat may help future advance

10 Aug 2010

News Corp is selling control of three Chinese TV channels to a local fund. But that doesn't mean the media mogul is throwing in the towel in China. A powerful local partner may help Star TV reach a bigger audience. Meanwhile, Murdoch can focus on more promising ventures.

Redstone discount at Viacom/CBS should get deeper

20 Jul 2010

The eccentric chairman of both U.S. media groups appeared even more Monty Burnslike by offering inducements for a reporter s source. Tellingly, he claimed to run the companies, revealing his take on governance. His behavior points to a lot of upside for the stocks one day.

Vince Cable may prove to be Murdochs’ nemesis

24 Jun 2010

The UK's new business secretary has the power to derail Murdochcontrolled News Corp's 12.3 bln pound plan to take over all of BSkyB. He also has an incentive. The Murdoch press vociferously backed the Conservatives in the recent election but trashed the Lib Dems.

Oprah not the answer for Goldman

23 Jun 2010

Talk shows just might help get the embattled Wall Street firm s message out. But while boss Lloyd Blankfein is more likeable than some on Main Street might think, the obvious questions lack easy answers. Goldman s best bet with BP s accidental help may be to tough it out.

Liberty should free remaining tracking stocks

21 Jun 2010

John Malone s plan to split the assets underlying Liberty s tracking stocks into one singlestock company and another with two trackers is a step forward. Untangling the remaining tracking stocks should be a priority even if it doesn t quite minimize taxes the way he likes.