Telephone hacking by reporters at Rupert Murdoch's News of the World newspaper have thrown News Corp. under a harsh spotlight and scuttled the media conglomerate's $12.5 billion bid for a UK broadcaster
Piers Morgan, the former editor of Trinity Mirror Plc’s Daily Mirror, was interviewed in December at a London police station in connection with a probe into the interception voice mails by journalists.
The Wall Street bankers behind Comcast Corp.’s $45.2 billion bid for Time Warner Cable Inc., a surprise end-run around veteran media dealmaker John Malone, drew from experience on some of the past decades’ biggest deals, including the RJR-Nabisco buyout made famous in “Barbarians at the Gate.”
News Corp., the newspaper publisher trying to rebound from an advertising slump, rose 8.7 percent after earnings beat estimates and the company posted gains in areas like real-estate services and book publishing.
U.S. stocks rose, with the Standard & Poor’s 500 Index capping its best two-day rally since October, amid optimism economic growth is robust enough to weather stimulus cuts even as data showed weaker-than-forecast hiring.
Tribune Co.’s proposed spinoff of its newspapers will probably happen by midyear, allowing time to vet candidates to run a business that includes the Los Angeles Times and Chicago Tribune, people with knowledge of the matter said.
21st Century Fox Inc., the film and TV company controlled by billionaire Rupert Murdoch, posted second-quarter sales that topped analysts’ estimates, boosted by Sky Deutschland AG revenue and growing programming fees.
U.S. stocks rallied the most this year amid better-than-estimated earnings and jobless claims, while the euro rose and German bonds fell as the European Central Bank left interest rates unchanged and refrained from adding stimulus. Gasoline, nickel and zinc led commodity gains.