Murdoch’s News Corp. Threatens to Pull Fox Off the Air in Aereo Dispute
News Corp.’s flagship Fox network might cease broadcasting over the U.S. public airwaves if the company’s dispute with upstart challenger Aereo isn’t resolved, a senior company official warned Monday. News Corp. COO Chase Carey said Fox — home of “The Simpsons,” “Glee” and “American Idol” — might simply move to pay-for-TV cable as a result of its legal dispute with Aereo, a New York-based startup backed by billionaire media mogul Barry Diller. Diller knows what it’s like to challenge entrenched media behemoths. He helped launch the Fox broadcasting network nearly three decades ago. At the time, it sounded crazy: who would want to challenge the three dominant U.S. broadcast networks? Since then, Fox has achieved what was then unthinkable, by regularly beating out NBC, ABC, and CBS in the ratinga. Fast forward a couple of decades and Diller is once again the disruptor, only this time he’s doing it against the company — and the industry — that made him ...
Branson Among Foreign Billionaires Pledged to Gates Charity
For the first time, foreign billionaires are locking arms with U.S. counterparts to sign "The Giving Pledge"—a commitment to give half their wealth to charity created in 2010 by Warren Buffett and Bill and Melinda Gates."Early on, the Giving Pledge was predominantly an American phenomenon," says Peter Newcomb, a Bloomberg News editor who compiles Bloomberg's list of global billionaires. Giving away one's money, says Newcomb, is an idea that traditionally has been more appealing to Americans than Europeans. "It was not really a European sensibility. Now you're beginning to see that change."
Found more than 1 month ago on channel Abc News
The economy + Valentine's Day = True Love
On Thursday, American Airlines and US Airways officially announced their long-rumored merger. And Warren Buffett's Berkshire Hathaway said it made a match with Ketchup giant Heinz, in a deal worth billions.
Mergers and Acquisitions Boom! Is This a Good Sign for the Economy?
Wall Street dealmakers are off to a busy start to 2013, as some of corporate America’s most recognizable names have become involved in multi-billion-dollar mergers and acquisitions. Just yesterday, American Airlines and US Airways announced they would be merging in an $11 billion deal, while private equity firm 3G and Warren Buffett‘s Berkshire Hathaway announced a $28 billion joint acquisition of food conglomerate H.G. Heinz. And these two deals follow hard upon $24.4 billion leveraged buyout of Dell by private equity firm Silver Lake Partners and the firm’s founder, Michael Dell. Indeed, according to data from Deallogic, U.S. companies have spent $219 billion on mergers and acquisitions so far in 2013, a sharp increase from 2012, when firms spent just $85 billion during the same period. And U.S. firms are on pace to have the biggest year in M&A activity since 2000. While all this activity will be surely benefit shareholders of acquired firms — as well as lots of Wall ...
Heinz Sold as Deals Take Off
Heinz, a brand in virtually every American kitchen, is selling itself for $23 billion to another household name—Warren Buffett—and a Brazilian private-equity firm that is anything but.