Wednesday, February 25, 2009
Variety: Murdoch could go after NY Times
by Larry Geller
Will media consolidation save the media? I cringe at the thought that we might all be subjected to Fox News no matter what channel we tune to or what newspaper we pick up.
An article in Variety, Murdoch on the prowl for print sales, hints that Rupert Murdoch may have both the New York Times and the Los Angeles Times in his crosshairs.
Maybe it’s just the stuff of rumor, but as the article points out, Murdoch’s News Corp. has more than $2 billion in free cash flow right now, even in the midst of hard economic times.
There would likely be regulatory obstacles that he would have to overcome. If the NY Times claims it needs to sell to Murdoch to keep the presses rolling, I’ll bet that regulators would cave pretty quickly. Or have things changed? Maybe we’ll find out.