Media News - Tuesday, July 31, 2007
Financial Times explores TV deals to fight Murdoch
Pearson, publisher of the Financial Times, said yesterday it would be a ‘worthy competitor’ for News Corp if Rupert Murdoch's company succeeded in buying the Wall Street Journal. It said it was exploring TV tie-ups to strengthen its position. Pearson, which also includes Penguin books and educational publishing, had considered a counterbid with the help of General Electric for the Journal's owner, Dow Jones. The move did not make financial sense but it remained in talks with GE, which controls the CNBC cable business channel, about possible cooperation to counter the combined strength of Dow Jones and News Corp's Fox Business news channel, which launches in the autumn. According to Pearson's chief executive, Dame Marjorie Scardino, the FT has been in talks with a number of potential broadcasting partners. Without directly answering the question of whether Pearson wanted to keep the FT, she referred to the advantages of being owned by a wider group. As for whether Pearson was braced for an approach from Mr Murdoch in the event he failed to get the Journal, Dame Marjorie said such an offer appeared unlikely. (The Guardian)
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