Quote:
Originally Posted by grabbi
DirecTV Sale Finalised.
Not really Virgin Media news, but kind of related.
Sky's owners, News Corp. have agreed to release DirecTV, the US' Satellite Broadcaster, to Liberty Media, ran by John Malone.
As some might remember, John Malone was said to be interested in Virgin media last year, before the Credit Crunch scuppered the Cable Co's chance of being sold.
http://www.digitalspy.co.uk/broadcas...lised.html?rss
---------- Post added at 20:41 ---------- Previous post was at 20:40 ----------
Anyone find it ironic, that News Corp. want nothing to do with Satellite TV in the US, but its the complete opposite in this country?
|
I've already gone into the Murdoch vs Malone saga before on this forum, so what repeat, except....
Malone built up a sizeable stake in Murdoch's News Corp company to such an extent that Malone tried to wrestle control of News Corp away from Murdoch. Murdoch took measures to prevent this, the so called "poison pill". But while Malone still had a sizeable stake in News Corp, he was still a considerable threat to Murdoch. So, Murdoch has finally sold his stake in Direct TV to Malone in return for his share of News Corp's shares.
Murdoch has spent the last 20 years building up global satellite ventures that would've eventually all have been merged into one company to create a "Global Sky" type business, the only one in existence.
Murdoch has spent a lot of time and money on his satellite business', now only to have to sell his most important part of it only a few years after finally getting it (Direc TV). Murdoch will not see any irony in this what so ever.