BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Media World: Merrill likely to sell Bloomberg stake to Mayor Mike]]>http://www.bloggingstocks.com/2007/10/26/media-world-merrill-likely-to-sell-bloomberg-stake-to-mayor-mik/http://www.bloggingstocks.com/2007/10/26/media-world-merrill-likely-to-sell-bloomberg-stake-to-mayor-mik/http://www.bloggingstocks.com/2007/10/26/media-world-merrill-likely-to-sell-bloomberg-stake-to-mayor-mik/#commentsFiled under: , ,

Merrill Lynch (NYSE: MER) Chief Executive Stan O'Neal, who is holding onto his job by a thread, likely will sell the Wall Street firm's 20% stake in my old employer, Bloomberg LP, to shore up his company's bottom line. Heck, O'Neal's successor probably will sell it as well.

If I was a betting man, I would bet that company founder and current New York Mayor Mike Bloomberg will probably buy out Merrill. Maybe a private equity player would buy the Merrill interest, reportedly valued at $20 billion, that Fortune values at least $4 billion. The magazine says Bloomberg LP is worth at least $20 billion. But I'm not sure Bloomberg would be willing to cede any management control to an outside investor. The same goes for a huge media company such as News Corp (NYSE: NWS) or Time Warner (NYSE: TWX).

What was obvious to even the lowliest peons at Bloomberg -- including me -- is that the company really likes being private. Management was always willing to try almost anything to keep people glued to their Bloomberg terminals even if it didn't earn an immediate profit. Legend has it, one time Mike Bloomberg noticed that people were away from their Bloombergs and learned that a major sporting event was going on -- he decided on the spot that the company would provide sports news. I have no idea whether this story is true, but knowing the company's corporate culture, it sure seems to be on the mark.

Continue reading Media World: Merrill likely to sell Bloomberg stake to Mayor Mike

Media World: Merrill likely to sell Bloomberg stake to Mayor Mike originally appeared on BloggingStocks on Fri, 26 Oct 2007 12:14:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bloombergbloomberg lpbloomberg newsbloomberg tvBloombergLpBloombergNewsBloombergTvfeaturedmedia dealsMediaDealsmerMerrill LynchMerrillLynchMichael BloombergMichaelBloombergmike bloombergMikeBloombergFri, 26 Oct 2007 12:14:00 EST<![CDATA[Sky Broadcast may buy AOL UK]]>http://www.bloggingstocks.com/2006/07/18/sky-broadcast-may-buy-aol-uk/http://www.bloggingstocks.com/2006/07/18/sky-broadcast-may-buy-aol-uk/http://www.bloggingstocks.com/2006/07/18/sky-broadcast-may-buy-aol-uk/#commentsFiled under: ,

British Sky Broadcasting (BSY.LN) is in talks to buy Time Warner's AOL U.K. operations (MarketWatch). CEO James Murdoch (son of Chairman Rupert Murdoch) said at the recent launch of Sky's broadband service. Sky runs the most popular digital television subscription service in the United Kingdom.

But James is looking for a bargain at this point; after all, Time Warner (TWX) is in a period of transition, deciding whether to give away all those currently paid-subscriber-only AOL features. The Market Watch piece quotes the Sky CEO saying he will not "overpay" for AOL UK, and also notes that the £600 Million (nearly US $1.1 billion) price tag associated with AOL UK is considered much too high by insiders.

Given that, it is hard to gauge how deep Murdoch's interest is. Perhaps he is only seeking to attach Sky's name to a major deal that makes it clear how significant a presence in broadband he intends for BSB. He anticipates that a third of current Sky television subscribers will also sign up for the new broadband service with the company by 2010.

Sky Broadcast may buy AOL UK originally appeared on BloggingStocks on Tue, 18 Jul 2006 21:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aolBritish SkyBritishSkydealsmedia dealsMediaDealsTime WarnerTimeWarnerTue, 18 Jul 2006 21:58:00 EST