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Since I report so much on Rupert Murdoch and News Corp, it seemed only fair to report on his softer side. Despite that fact that Murdoch is known for pushing a conservative agenda in his media outlets, he's promoting what's traditionally been considered a liberal cause -- a campaign against global warming.
Everyone gripes about the fact that there's no privacy online and Web surfers' personal information is exploited. But sometimes our actions online should be transparent -- there needs to be some accountability in this world of Wikis, where users are counted on to police inaccuracies and update news.
One of the more interesting aspects of last night's Berkshire Hathaway portfolio filing is the appearance of just under 3 million shares of Dow Jones stock. We now know who sold those shares to Warren Buffett. PLUS: A preview of tonight's real-time coverage as Buffett hosts a fundraiser in Omaha for Barack Obama's presidential campaign.
Billionaire investor Warren Buffett bought a major stake Bank of America and added a significant investment in Dow Jones as well, a regulatory filing shows. Buffett's Berkshire Hathaway said it owned 8.7 million shares of Bank of America, the second-largest U.S. bank, valued at $425.3 million.
The New York Times may be the paper of record, it might have earned the title 'Gray Lady,' but it cannot escape the changing times. I'm not talking about the fact that that print publications across the board are suffering ad revenue declines and subscription dips.
NBC Universal (parent company is GE which also owns CNBC) and News Corp's joint online video venture doesn't have a name (though in some circles it's referred to as New Site), and it's ostensibly launching in September but there's no specific launch date. But somehow it's worth $1 billion dollars, at least based on a 10% stake reportedly being sold to private equity firm Providence Equity Partners for $100 million.
While most long-term investors should stay on the sidelines during the current market turmoil, analysts say there are opportunities to find some bargains amid the carnage."Fear creates opportunity," Michael Embler, chief investment officer at Franklin Templeton Investments, told CNBC.com. "If you are a long-term investor, you should be turning off your screen. But if you want to buy stock, this is an opportunity."
News Corp.'s Rupert Murdoch has said he might make the Wall Street Journal's Web site free, a shift that could compel Britain's Pearson to do the same with the online version of its Financial Times.
Gannett is not for sale, CEO Craig Dubow said in a memorandum to employees, shooting down rampant speculation that the biggest U.S. newspaper publisher is preparing for a change of control.
Richard Branson's Virgin Media, said it has delayed its sale until the environment improves enough for all interested parties to bid. The British billionaire Branson is the largest shareholder of this cable TV company, which received one bid from the Carlyle group for some $23 billion, and some nibbles from other private equity players.
There's no question that Blockbuster's livelihood is under attack--the business of driving to a store to rent a DVD and driving back when you're done is threatened from video on demand, and digital downloads, especially since both technologies are getting better and faster. So, looking to avoid going the way of the Beta Max, Blockbuster just purchased online movie downloading company Movielink for under $20 million.
Rupert Murdoch's News Corp. on Wednesday said fourth-quarter profit rose 4.5% on higher advertising sales and affiliate revenue from the Fox News Channel and on more new subscribers at the Sky Italia satellite TV service.
News Corp earnings come out after the bell, followed by a conference call at 4:30 eastern. Analysts focus on the call (there's always a Q&A period after the presentation) will be much less on the numbers, and much more on CEO Rupert Murdoch's guidance. The hot topic of the day is Dow Jones. Analysts may ask Murdoch to justify the 67% premium he's paying for the company in an industry facing such slow growth.
The Fed's comments yesterday calmed some of the credit angst in the markets and set the stage for a move higher in global equities. U.S. stocks are positioned to trade higher this morning, and Cisco's strong earnings news is adding some punch to the Nasdaq.
The family that controls Dow Jones doubled the quarterly dividend it receives ahead of its decision to approve a takeover offer from News Corp. , the New York Post reported Monday.
The market's wild swings are expected to continue through the summer, analysts say, but investors should take advantage of the volatility instead of fearing it. "There's no reason to think these 100, 200-point swings won't continue," said Rob Brown, chief investment officer at Genworth Financial. "That provides an investment opportunity."
The amnesiac assassin Jason Bourne is back, and this time he clobbered Homer Simpson. "The Bourne Ultimatum," the third movie in the espionage action series starring Matt Damon as a one-time CIA hit man searching for his past, grossed $70.2 million its opening weekend to rank as North America's top film at the box office, according to estimates.
Dow Jones is considering a possible deal under which it would pay legal fees of shareholder Christopher Bancroft in a bid to get further support for its deal with News Corp., the Wall Street Journal reported on its Web site on Thursday.
Rupert Murdoch's deal to buy Dow Jones won support on Wednesday in the editorial pages of his long-coveted Wall Street Journal, which defended its new boss and tasked him with upholding more than a century of journalistic principle.
Stocks rose sharply in the final minutes of trading, with the Dow posting a triple-digit gain, as bargain hunters snapped up beaten down shares after credit jitters weighed on the markets all session. "At some point we have to look at the recent downturn as being slightly overdone," Arthur Hogan, managing director at Jefferies, told CNBC.com.