Word: murdochs
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Maybe. Kirch's empire, of which KirchMedia is only a part, is foundering under debts of $5.7 billion. Its creditors include some of Germany's biggest banks as well as foreign media empires, such as Rupert Murdoch's News Corp. and Italian Prime Minister Silvio Berlusconi's Mediaset. The law gives new management 90 days to come up with an operating plan under "self-administration," similar to the Chapter 11 bankruptcy provisions in the U.S. "There are more possibilities to save the firm than under the old law," says attorney Peter Neu, who specializes in bankruptcies. "They don't have...
...point was 4 million. The company was losing more than $2 million a day, and he borrowed heavily to keep it running. Kirch also offered investors a "put option" - a promise to get their money back if they wanted to quit the company's far-flung businesses. Big players - Murdoch has an option on KirchPayTV and German newspaper publisher Axel Springer Verlag has one on ProSiebenSat.1 - began the year by demanding their money back at a time when the pay television operation had left the company with no cash...
...Formula One auto racing as well as a 40% stake in the Springer publishing firm, which could both be sold off to reduce debt. While there has been a public clamor to find a "German solution" to the Kirch bankruptcy, Schr?der has said he would have no objections if Murdoch took over parts of the business. The same could not be said for Mediaset, since Berlusconi is a conservative politician whose policies are frequently at odds with those of the left-leaning Schr?der...
...some Beautiful bashers, these omissions are crucial--as if a biopic of Bill and Hillary Clinton had left out "I didn't inhale," Paula Jones and the cigar. But A Beautiful Mind--like the Iris Murdoch drama Iris, which has also been criticized for rouging the truth, and for which Judi Dench and Jim Broadbent are nominated this year--is biography simplified to a parable in which reason is lost and love sustained. Anyway, that's the movie that Howard made and that will probably be named Best Picture on Sunday. You see, now that it's been pilloried...
...seems fitting that Murdoch could be the last man standing in the current sports-broadcasting dilemma. He was, after all, present at the creation. Before the 1990s, Europe's airwaves were ruled mainly by public terrestrial television stations, which paid, by today's standards, mere pocket money for the rights to screen football and other sports. But with the advent of private and pay-TV networks came the search for content that would not only attract viewers, but also build the kind of loyal subscriber bases and demographics that advertisers love. The answer? Sport, once famously described by Murdoch...