Murdoch Just Dropped His BSkyB Satellite Bid
Rupert Murdoch’s News Corporation announced that it is withdrawing it's $12 billion bid to take over the shares it does not already own in Britain’s main satellite television broadcaster, Sky News reported. Ironic the source? Maybe they heard it down the hall?
So this development is the latest that stems from the phone hacking scandal within Mr. Murdoch’s British newspaper empire that has convulsed his company and ended not only the News of the World - but more importantly a very close, cozy and influential relationship with the British establishment. Police and also Ministers. What that really means is that power recognizes power. And when insects recognize a sick plant - they attack it. Or use the shark analogy. Whichever works better for you.