Viacom Inc. said it will acquire the U.K.’s Channel 5 for 450 million pounds ($761 million), giving the owner of MTV and Comedy Central a new stage for its shows in Britain and a chance to create programs for the local market.
Richard Desmond, founder of the Northern & Shell Plc media group, sued a Man Group Plc hedge- fund unit for as much as 20 million pounds ($33 million), adding it to a dispute over losses on an investment he said was too complex to understand.
Bertelsmann AG ’s RTL Group SA agreed to sell its U.K. television station Channel 5 to Richard Desmond , owner of the Daily Express newspaper and Television X adult channel, for 125 million euros ($161 million) in cash.
Richard Desmond , the owner of the Daily Express newspaper, told Sky News in an interview that while he would “never go against” News Corp. Chairman Rupert Murdoch in his company’s bid to buy British Sky Broadcasting , the risk of so much media control resting in the hands of Murdoch’s successor could create a “very dangerous situation” if the person were a “despot.”
Richard Desmond , owner of the Daily Express and Daily Star newspapers, asked Goldman Sachs Group Inc to review his newspapers’ assets, the Sunday Times of London said, without saying where it got the information. There is no formal mandate for a sale at this stage, according to the report.
An Australian recall by China’s two biggest car exporters for potential cancer-producing asbestos parts may threaten plans by Chinese automakers to expand into the U.S. and Europe amid intensifying competition at home.
Richard Desmond , the owner of the Daily Express newspaper, may agree to buy RTL Group SA’s U.K. television station Five within days, the Sunday Times reported, without saying where it got the information.
Time Warner Inc. is in talks with Richard Desmond , owner of the U.K.’s Daily Express newspaper, to acquire the American edition of OK! magazine, the Sunday Times reported, without saying where it got the information.