Report: Rupert Murdoch, Abu Dhabi Media Group Eyeing Financial Times
A report out of Malaysia circulated this morning which claimed Rupert Murdoch and the state-owned Abu Dhabi Media Group are in talks to acquire The Financial Times Group for $1.2B. News Corp. said, “This is completely untrue” and FT owner, Pearson, also denied the report saying, “The Financial Times is not for sale, and Pearson is not in any talks to sell it.” The talks, reported by Malaysian political and business magazine The Edge Review, cited financial executives familiar with the negotiations which had purportedly been going on for the past month. The Financial Times Group includes the flagship Financial Times newspaper as well as The Economist magazine. Per AFP, the report said the Abu Dhabi group is eyeing a 75% stake with Murdoch’s new News Corp. taking 25%. News Corp. officially split into two entities today. In an interview published in the FT website on Thursday evening, chief executive of the publishing business, Robert Thomson, said News Corp. could use its $2.6B of net cash for acquisitions, but there was no mention of the FT, and he also played down expectations of a bid for the Los Angeles Times. Thomson is a former U.S. managing editor of the FT.
Judges Deny Appeals To Drop Charges Against Hacking-Scandal Figures
In other News Corp.-related news, former News International chief Rebekah Brooks, and former News Of The World editor Andy Coulson have both been denied appeals to have criminal charges against them dropped. Neither appeared in a London court Friday, but three judges there dismissed the appeal that had been brought by Brooks, Coulson and three others, The Guardian said. Brooks and Coulson’s trials begin in September, when they will face charges related to phone hacking. The appeals were fashioned on the grounds that the law does not extend to voicemails that already had been listened to. (more…)