Timmy elsewhere

Trying something out on Seeking Alpha.

What happens to News Corp if the US decides to investigate the bribery of cops?

8 thoughts on “Timmy elsewhere”

  1. …largely manufactured concerns about media monopoly; the real reason is that those complaining would prefer that someone with Murdoch’s political views not have such control…

    Erm, how’s the weather there on Mars, Tim?

    Down here on Earth, the real reason that almost everyone – right and left – is dismayed, is the prospect of another swelling in the power-base of an organisation with a record of such outrageously unethical behaviour.

  2. Larry said: “the prospect of another swelling in the power-base of an organisation with a record of such outrageously unethical behaviour.”

    Do you mean the State or the BBC …?

  3. As Dave Osler noted elsewhere: “If there is a qualitative difference between having a dominant interest in BSkyB and outright ownership of the satellite broadcaster, it pretty much escapes me.”

    Link: http://www.davidosler.com/2011/07/bskyb-deal-the-class-politics-of-media-ownership/

    (News Corp has less than 50.1% share of BSkyB, but it owns enough to get the job done.)

    A question for the accountants and corporate report readers: Does News Corp report brand value as an asset? If it does, then it has written off a lot of money. Even if it doesn’t, it has created a new branding problem when it tries to go seven days per week with The Sun; there would have been a lot of NotW readers who do not consider themselves to be Sun readers; that conversion process has become a lot harder.

    There is a further question to which real answers are unavailable: Did NotW make money or was it a loss leader/vanity publication?

  4. Worstofall:

    “ownership of UK newspaper or TV licenses.”

    Shouldn’t that be “licences”? After all you are talking about the UK here.

  5. I’m not sure the US will be too intersted in investigating this, sounds to me like somebody just gobbing off.

    But I remember the howls about Murdoch buying the Wall Street Journal and how it would cease to be X and become Y, etc. etc. Now I don’t know what it was like before, and I don’t know what it is like now to be honest, but I do know that it was the only paper to cover the Macondo well blowout with any kind of accuracy. Even blokes in the industry were impressed with their articles. I’ve yet to see a news article from the BBC that I would call impressive.

  6. It’s getting surreal. This evening the Beeb put forward Keith Vaz M.P. to pose as a pillar of moral rectitude. Earlier we were invited to feel sorry for that moral giant Gordon Brown, erstwhile employer of Damian McBride.

  7. Does News Corp report brand value as an asset?

    No. In general, companies don’t report brand value as an asset. The exception is when they make an acquisition at a price significantly above the acquired company’s book value, at which point you need to the difference as “goodwill” to make the books balance. Otherwise, they don’t, because brand value is utterly nebulous and accountants don’t like utterly nebulous concepts unless they’re completely unavoidable.

    NOTW definitely made money before the scandal. All pre-last-week accounts of News International’s performance say that the NOTW and Sun subsidise the Times and ST’s losses.

    Tim N: yes, the WSJ historically had a reputation for being one of the best newspapers at reporting (a batshit opinion section, but also very good at keeping news and comment separate), so its strong coverage of Macondo doesn’t surprise me. When I’ve dealt with them as a source, they’ve been the most probing and difficult (in a good way) interviewer I’ve ever had to deal with – this was pre-Murdoch. You wouldn’t expect them to fall into the gutter overnight – the concern is that this culture will gradually be eroded (see: the Telegraph, which has gone from a British WSJ equivalent to the Daily Mail with bigger pages).

  8. You wouldn’t expect them to fall into the gutter overnight – the concern is that this culture will gradually be eroded (see: the Telegraph, which has gone from a British WSJ equivalent to the Daily Mail with bigger pages).

    Yes, but to be fair, The Telegraph isn’t in Murdoch’s stable. The Times has managed to keep it’s integrity probably better than the rest.

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