Good news in media!
Posted by Charles II on October 20, 2012
This is sure to improve the quality and diversity in journalism.
Rupert Murdoch’s News Corporation is looking to bid for the Los Angeles Times, the paper has reported, adding Murdoch is also interested in buying its stablemate the Chicago Tribune from their parent company, the Tribune Company.
The paper said a deal might require a waiver of federal laws that block ownership of newspapers and TV stations in the same market. Murdoch’s Fox network has stations in Los Angeles in Chicago. Tribune also has interests in television stations, some of which carry programming from News Corp’s TV channels or operate as Fox affiliates.
A bid for the LA Times alone could be worth as much as US$400m, the paper said.
I’m sure that a few strategic campaign donations can gain him the waivers. But I wish he’d finish paying his fines from the latest wiretapping/computer hacking episode before further degrading our media.
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