Word: murdochized
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...Those assets are absent for good reasons, particularly when it comes to the mainland. Broadcasting resources in China are owned, tightly controlled and censored by the government. There simply aren't many ways for overseas broadcasters to get signals to the public. Rupert Murdoch's News Corp. beams some programming into the country through its STAR satellite business and its joint venture with Phoenix TV, a 24-hour news channel based in Hong Kong. Meanwhile, AOL Time Warner (TIME's parent company) has invested in CETV, another Chinese news and entertainment channel. But, it is technically illegal for most Chinese...
...butt heads with much bigger rivals. Li's principal advantage is his ability to make nice with the Chinese government in ways that AOL Time Warner and News Corp., purveyors of Western programming and news that does not match Beijing's worldview, cannot. Li will never slip up as Murdoch, the News Corp. chairman, did in 1993 when he declared in a speech that foreign media have the power to topple totalitarian regimes everywhere?a statement that got him temporarily banned from conducting business in China. Conversely, Li's easy rapport with Beijing's Elite, as well as his sensitivity...
...have been caught in the squeeze play. Last year, the Swiss-based sports-rights agency ISL collapsed after overpaying for the commercial rights - mainly for broadcasting and sponsorship - to a wide range of sports, including $1.2 billion over 10 years for men's professional tennis. Last month Rupert Murdoch's News Corp. wrote off $909 million on contracts to broadcast such sports as Major League baseball. Murdoch's BSkyB also wrote off the value of its investment in KirchPayTV - to the tune of a whopping $1.4 billion. This week in Britain, broadcaster ITV Digital is expected to conduct frantic talks...
That's not to say those who have been burned will stay away from the fire for good. Even as Rupert Murdoch rebalances his books, he is keeping his eye on the long-term ball. The media mogul may have written down his KirchPayTV stake, but he still holds a $1.5 billion "put" option - a risk-averse instrument that gives one the right to sell an asset at a pre-determined price - in the business that he could use as leverage to get his hands on any part of the Kirch empire that interests him. Including Formula...
...magnate who controls a bundle of TV networks, plus the rights to warehouses full of movies and other goodies like the next soccer World Cup. He is in hock to the banks for about ?6 billion ($5.2 billion), and lots of loans are coming due these days. When Rupert Murdoch, the Australian-American ruler of a globe-spanning media empire, offered himself as a savior, Schröder sent out the signal: "No foreigners!" The word was spread that the Chancellor preferred a "national solution" - as he did in the case of John Malone, an American whose Liberty Media wanted...