News Corp's Rupert Murdoch Not Interested in Buying Boston Globe

Wednesday, 27 Feb 2013 12:03 PM

By Alexandra Ward

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
News Corp. baron Rupert Murdoch has zero interest in buying the Boston Globe, and he "flat out" told reporters so on the red carpet at Sunday night's Academy Awards.

"The company has no interest in acquiring the Globe," a News Corp. source also told the Boston Herald, further quashing the speculation.

Rumors began swirling last week that the media mogul was interested in buying the Globe from the New York Times Co. A report in the News Corp.-owned Wall Street Journal said the Times was interested in drawing a bid from Murdoch, if only to drive up competing offers.

Urgent: High Gas Prices: Is it Obama's Fault? Vote Now

If Murdoch went after the Globe, it could present a tangled bureaucratic problem because of the Federal Communications Commission's ban on cross-ownership, according to the Herald. The ban prohibits the same person or company from controlling both a television station and a newspaper in the same market. Murdoch's joint interests would violate that rule, even if he takes measures to divide his print and broadcast entities.

"The rule still stands, even though the FCC is trying to get rid of it," newspaper analyst John Morton told the Herald. "It doesn't matter if it's owned separately, if it’s all under the same person’s control."

The New York Times Co.'s decision to sell its New England Media Group, which includes the Globe, is part of its strategy to embrace the new digital media landscape and shed traditional newspapers in favor of more mobile, social media, video, and other technology-centered opportunities.

"The Boston Globe and the Worcester Telegram & Gazette are outstanding newspapers and they and their related digital properties are well-managed leaders in their markets with real opportunities for future development," Times Co. CEO Mark Thompson said in a statement. "But given the differences between these businesses and The New York Times, we believe that a sale is in the best long-term interests of these properties and the employees who work for them as well as in the best interests of our shareholders."

Related stories:

Rupert Murdoch: Chinese Are Still Hacking the WSJ

Rupert Murdoch Labels Scientology 'Very Weird Cult'

How Rupert Murdoch and Roger Ailes Changed the World

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Tapeworm in Brain of Man for 4 Years Removed by Surgeons

Saturday, 22 Nov 2014 17:33 PM

A tapeworm that not only lived in a man's brain for four years but traveled from one side of the brain to the other has  . . .

Window Washer's 11-Story Fall Ends Atop Car - He Survived!

Saturday, 22 Nov 2014 17:14 PM

A window washer survived with critical injuries after falling 11 stories from the roof of a San Francisco bank building  . . .

Georgia O'Keefe $44 Million Painting Most for Woman Artist

Saturday, 22 Nov 2014 16:49 PM

A new world auction record for women artists was set when a painting by late American artist Georgia O'Keeffe sold for m . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved