13 July 2011

GOTCHA!

In the last half hour or so it has been announced that NewsCorp is withdrawing its bid to take full control of BskyB.

The move comes just before a parliamentary debate on the Murdoch bid for the satellite company. The Murdoch empire still retains a 39% stake and thus has effective control, with James Murdoch as chairman. The recent revelations may well focus attention on James Murdoch's fitness to continue in this role

It's been a crappy year or so for the Murdochs: It has been already been pilloried for massively overpaying for Dow Jones and the Wall Street Journal and selling off Myspace at an enormous loss... and then there is the small matter of paying hundreds of millions for Elizabeth Murdoch's production company.

All in all it looks like the Dirty Digger has lost his Midas touch and replaced it with a Sadim one. While it would not bother me if everything else he touches continues to turn to shit, Newscorp shareholders may well take a different view.

I wonder if we will her of Rupert's "retirement" in the not too distant future. That said another one of the clan will probably take his place... Hiho



It is also facing legal action

6 comments:

Welshcakes Limoncello said...

At last!

jams o donnell said...

Absolutely!

Silent Hunter said...

Excellent news.

jams o donnell said...

It is SH!

Bryan said...

It is amazing how toxic Australopithecus rupertus is throughout the English-speaking world, and how beloved of politicians.

Even the US Congress may finally get off its backside and have a look at what News Corp has been up to over here.

jams o donnell said...

He's certainly on the back fot. If things develop in the US then he will be in real trouble