Skip to main content

View Diary: Who is Buying News Corp Stock? (43 comments)

Comment Preferences

  •  Even with Murdoch gone, (1+ / 0-)
    Recommended by:
    Curt Matlock

    there is the risk of significant legal liability write-offs if it's found that other news outlets similarly engaged in a widespread pattern of illegality.  I'm not so sure that I'd be anxious to describe News Corp as undervalued just yet.  But someone may well try that and, depending on just how the cookie crumbles, either be a genius or bankrupt.

    That they closed News of the World so abruptly says to me that News Corp senior management thinks very little of News Corp's market value right now.  You generally don't throw away assets like that unless you're strongly convinced that those assets' value is extremely low as compared to potential liabilities.  Maybe I'm misreading the tea leaves but I interpreted that to be a raising of the white flag, a tacit acknowledgement that the British tabloids represent only a small proportion of the potential risk here.  If I'm right (and this is why I'm not an investor :) ), this could be about to get interesting.

    "What Washington needs is adult supervision" - Barack Obama

    by auron renouille on Tue Jul 19, 2011 at 11:27:42 PM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site