Word: rupert
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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...
...that is, panicking]. But I think the stock market is going to go up and up." So far, he's been right. He bought big, but he also bought big names. Alwaleed told TIME that he now owns about 5% of News Corp., the global media conglomerate run by Rupert Murdoch, making him the second largest individual holder, behind Murdoch. Alwaleed also bought some 5% of Web-browser maker Netscape Communications, and a chunk of chip and cell-phone maker Motorola. The fourth finalist, another well-known American company, according to the prince, is still being bought...
...Waleed has purchased 5 percent of Rupert Murdoch's News Corp. for $400 million, 1 percent of Motorola Inc. for $300 million and a 5 percent share in Netscape for $150 million. The Prince is already worth $12 billion, and Tuesday's deals will probably net him another sizable chunk of the world's wealth. Maybe he's saving up for a presidential coffee klatch...
...Sony chief is spinning deals with Microsoft. Last April, Microsoft paid $425 million for WebTV Networks Inc., an Internet software provider that uses Sony hardware. IBM's Lou Gerstner could be a key partner in shaping a future DVD format. In May, through Idei's personal connections with Rupert Murdoch, another Sun Valley buddy, Sony announced it would cooperate with News Corp., Fuji Television Network and Softbank, the Japanese company that owns Ziff-Davis and the comdex computer shows, in a venture to start JSkyB, a 150-channel satellite broadcasting service in Japan...
First he lost a bidding war for Paramount Communications in 1994. Then his effort to take over CBS collapsed at the last minute. But last week Barry Diller, who masterminded the rise of the Fox Network for Rupert Murdoch's News Corp. a decade ago, was no longer a mogul-without-portfolio. Diller, who heads up the unglamorous HSN, whose holdings include the Home Shopping Network and a stake in Ticketmaster, struck a deal for nearly $4.1 billion with Seagram Co. that lays a foundation for his own entertainment empire. Diller, 55, will pay Seagram $1.2 billion in cash plus...