NYT: Murdoch is in 'Shopping Mode,' Eyeing Sports Network

Monday, 19 Nov 2012 08:49 PM

By Todd Beamon

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Having spent more than a year mired in a British phone-hacking scandal, Rupert Murdoch’s News Corporation is looking to buy up properties again, The New York Times reports.

“Rupert has his mojo back,” said Todd Juenger, a media analyst at Sanford C. Bernstein, told The Times. “The stock is up, investors are happy with the company’s recent decisions.”

“He is definitely rubbing his hands together,” an individual with knowledge of News Corporation’s deal-making discussions, told The Times about Murdoch.

The company is eyeing 49 percent of the New York-based Yes Network, which could anchor a new national sports network to compete with ESPN.

It also is planning to spin off some of its underperforming publishing assets, including newspapers like The Wall Street Journal and The New York Post, into a separate entity to be traded publicly.

Other companies that Murdoch might acquire for this new entity might be the Los Angeles Times, The Chicago Tribune, and several more education companies, The Times reports.

“The internal narrative at the company is that the boss is in shopping mode,” another person close to News Corporation told The Times.



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