Marketplace helps you stay financially responsible all year, now we need YOUR help to keep our budget on track.
Donate NOW to help us hit our target of 2,500 Marketplace Investors by June 30!
Billionaires battle over ITV
Share Now on:
TEXT OF STORY
SCOTT JAGOW: Backing the O.J. project was obviously a mistake for Murdoch, but he hasn’t made many bad business decisions. In fact, right now in Britain, he’s making news for a daring financial maneuver. Stephen Beard has more from London.
STEPHEN BEARD: Murdoch has infuriated his fellow billionaire, the airline boss Sir Richard Branson, by pulling off a lightning coup.
Branson and his cable TV partners were planning to buy Britain’s largest commercial broadcaster ITV, but then Murdoch stepped in.
His British satellite TV firm snapped up around 18 percent of ITV. That could spoil Branson’s plans. He wants 100 percent. With that he could rival Murdoch’s growing TV empire in Britain.
Branson is fuming, but analyst David Buik is full of praise for Murdoch’s move.
DAVID BUIK: I think he’s just been two moves ahead of the game. I think this is a sensible business decision on his part. And you can call it “spoiling tactics” but why not? It’s a rough old jungle out there. Dog eat dog.
Branson, however, is planning to complain to Britain’s competition authority.
In London, this is Stephen Beard for Marketplace.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.