Word: murdoch
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...Rupert Murdoch isn't somebody to sit back and count his blessings. It was just two weeks ago that the U.S. Federal Communications Commission took a load off his mind when it decided not to force him to reduce his ownership stake in eight stations that are at the center of his Fox TV network. With that major distraction out of the way and the coffers of his News Corp. global media empire bursting--he boasted recently of having $1 billion on hand--everybody figured it was just a matter of time until his next big move...
...time at all, as it turned out. On Wednesday, News Corp. and MCI, the long-distance giant, announced a deal to form a worldwide media partnership, one that could add as much as $2 billion to Murdoch's buying power. A year ago, after MCI sold a 20% stake of itself to British Telecommunications for $4.3 billion, it began looking for a partner to transform its worldwide phone network into pathways for "content"-whatever a computer or TV screen can receive, from info-services to movies. "You can hardly think of content without the name of Rupert Murdoch coming...
...Roberts' request, he and Murdoch held a brief get-to-know-each-other meeting at the Los Angeles airport in November. "After about 15 minutes we hit it off personally," he says. "And we both instantly saw that there may be some genuine reason to pursue this." At the end of the pursuit, MCI agreed to invest heavily in News Corp. stock--$1 billion now plus $1 billion over the next four years. In return, Murdoch will send his company's immense fund of grunt-and-grin entertainment, news and information through MCI phone lines into home and business screens...
...RUPERT MURDOCH FCC says his foreign vs. domestic holdings hold no conflict...
...most famous of which declared, "There is no health-care crisis," and the most prescient of which provided a blueprint for conservatives becoming a governing majority. Last October, Kristol and Podhoretz decided that these papers could also be the blueprint for a new magazine. They arranged to meet Murdoch for dinner in Beverly Hills, California, and suddenly those memos were worth $3 million more than the paper they were printed...