When Rupert Murdoch withdrew his company’s bid for BSkyB, it stung a bunch of hedge funds invested in the company, including Murdoch’s daughter’s ex-husband’s.The Guardian lists a number of funds invested in BSkyB (BSY):
- Perry Capital: a 1.1% stake
- Taconic Capital Advisors
- Davidson Kempner European Partners LLP
- Odey Asset Management: 2.4%
And here’s a fun detail about Odey’s investment in BSkyB.Crispin Odey, the fund’s founder, married Rupert Murdoch’s eldest daughter Prudence (“Prue”) when she was 26-years old. They divorced a year later and now she’s married to Alasdair MacLeod, a ranking News Corp executive.
BSkyB is 39.1% owned by News Corp. Both shares are down since the phone hacking scandal began and Murdoch’s company withdrew its bid for BSkyB.
Odey sold some of his 2.4% holding last week, but the Guardian says the fund’s paper loss “is estimated to exceed £3 million (~$4.8 million).”
In retrospect obviously, $5 million is nothing and Odey brushed it off. He told the Guardian that the fall in share price is “nothing. It was 550p a year ago.”
Capital Research & Management, BlackRock and Fidelity are the BSkyB’s biggest shareholders.