Word: murdochs
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...specter of a sell-off of the division or some broader restructuring has moved Dow Jones stock to its highest price since 1987; last Friday it closed at $54. Several Dow Jones insiders noted Rupert Murdoch's recent visit to Dow Jones headquarters for a meeting with Kann, and both Microsoft's Bill Gates and Buffett have privately expressed interest in the company, believing the Journal and Dow Jones brands are all underleveraged assets. Jettisoning one weak division may not be a panacea. The company will probably take an estimated $800 million write-off. And strategically it will become weaker...
Mechanic decided not to hide. He invited his boss, Rupert Murdoch, head of Fox's parent company, News Corp., to see where those millions of dollars were going. Titanic at this point was a four-hour work in progress. But Mechanic thought Murdoch would see that the movie--a tricky blend of action and romance--was "pretty remarkable looking...
...Murdoch took himself to Cameron's state-of-the-art screening room in Santa Monica, Calif., prepared to be dazzled. Instead, disaster struck. An electrical short shut down the projector. For a director whose films often deal with the treachery of technology, the symbolism was painfully apt. For Mechanic, it was another speed bump on the highway to hell. Murdoch left without seeing a frame of film...
...setback, like so many others that plagued Cameron's saga of the legendary ocean liner, did not prove fatal. Murdoch saw the film at Fox the next day. "He said, 'It's a great film,' " Mechanic recalls. "He understood where the money went and that we had a chance to get our money back...
Where does this Arabian Warren Buffett think of investing next? East, it seems. His investment in News Corp. is based on a hunch that Murdoch's empire can grow by leaps and bounds in Asia. Says the prince: "Liberalization of media and entertainment in China and India will have a tremendous boost on News Corp. shares." Motorola is already in China. Earlier this year, Alwaleed made a 15-nation scouting trip through Asia and placed his first direct investment, taking a piece of the Shanghai Trade Center, which will be the tallest skyscraper in the world when it is finished...