Business Services Industry
The missing link.
Australasian Business Intelligence, April, 2003
Apr 14, 2003 (The Economist - ABIX via COMTEX)
The last couple of weeks have been successful for Rupert Murdoch's News Corporation. Fox News' coverage of the war in Iraq was more popular than that of Time Warner's CNN. Regulators approved the merging of Stream, News Corporation's Italian pay-TV unit, with Vivendi's Telepiu. Murdoch also achieved a long-held ambition to invest in General Motors' offshoot Hughes Electronics, which controls US satellite television group DirecTV. His firm is buying 34 per cent of Hughes for $US6.6 billion. Murdoch is a "patient predator". He is willing to incur losses while seeking a long-term ambition.
Publication Date: 12 April 2003
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