Word: murdochs
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Either way, Davis is likely to score big, which is his habit. He used his oil profits in 1981 to buy 20th Century Fox, then sold it to Rupert Murdoch four years later for an estimated profit of $325 million. Davis picked up another $50 million by buying the Beverly Hills Hotel from the family of insider trader Ivan Boesky in 1986, then turning around and selling it to the Sultan of Brunei. Even Davis' "dry hole" takeover attempts often pay off. While Los Angeles investor Alfred Checchi won Northwest with a $4 billion bid, for example, Davis pocketed...
Generating laughter throughout the speech, Lewis spoke at length about news stories on the sex life and pets of Elton John run by the Daily Sun and the World News Today, both of which are owned by Rupert Murdoch. The stories in this recent series resulted in John filing libel suits against the press...
PRESS: TV Guide gets a Rupert Murdoch revamp...
...tarting up of TV Guide has dismayed many staffers. "The Murdoch people do not understand the American magazine reader," says outgoing managing editor R.C. Smith. "TV Guide has belonged to a small group of magazines, like National Geographic and Reader's Digest, in that it has always managed to be respectable so that people want to have it in their homes. ((The new bosses)) have a virgin-and-whore feeling about journalism -- you're either the Times of London or the Sun. The idea that there's a balancing act in between, I think, is alien to them." So, apparently...
Some of the darker warnings about Murdoch's takeover have not been borne out. TV Guide is not giving special editorial treatment to the Fox network, which is part of Murdoch's media empire. The listings section is still unmatched for comprehensiveness and accuracy, and the magazine's personality pieces retain a healthy edge of skepticism. Moreover, some staffers believe the old TV Guide, with its rather stodgy format, may have been due for rejuvenation. Yet that sober, even-tempered tone of voice always provided an important bit of ballast for a business fraught with glitter and hype. The danger...