News Corp. shares have been bouncing around single digits for the past year or so, leaving Rupert Murdoch and his minions a bit more than grumpy.
Breaking Views’ Rob Cox has a solution for the gang in The New York Times: Sell some of the company!
•The company’s cable channels: $16 billion.
•Twentieth Century Fox: $6.4 billion.
•Television: $13 billion.
•The Web: $1 billion.
•Newspapers and Publishing: $4 billion.
•The sum, according to The Times, makes News Corporation’s assets theoretically worth at least $40 billion, and minus debt, expenses and minority interests, worth about $30 billion “or at least $12 a share.”
The problem is that Rupert doesn’t really want to sell anything off at this point. He sees value in size and seems more interested in expanding the empire than rationalizing, even with today’s depressed stock value.
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