Rupert Murdoch’s Fox joins court challenge to CBS’ Australian TV buyout

Rupert Murdoch. (AP)
Updated 12 September 2017
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Rupert Murdoch’s Fox joins court challenge to CBS’ Australian TV buyout

SYDNEY: Rupert Murdoch’s Twenty-First Century Fox Inc. joined a court challenge on Tuesday against rival US cable network CBS Corp’s proposed buyout of struggling Australian television broadcaster Ten Network Holdings Ltd.
The US broadcasting heavyweights faced off in the Australian courtroom amid a battle for control of Ten, a ratings laggard which went into administration three months ago following long declines in viewership and advertising revenue.
Lawyers for Ten said the private company of Murdoch’s son, Fox Executive Chairman Lachlan Murdoch, had offered to revise the offer it made in June before it was elbowed aside by CBS.
Murdoch’s company Illyria and its Australian partner had informed Ten overnight on Monday that they “wish to in some way reopen their offer by opening negotiations,” Ten lawyer Richard McHugh told the court.
Illyria’s offer has not been disclosed but McHugh said the company had still not provided anything that could be put to Ten’s creditors.
Documents released on Monday by the administrator show CBS, the free-to-air network’s major creditor, is prepared to pay at least A$201.1 million ($162 million) in cash for Ten.
While Ten was worth less than A$60 million when it went into administration, it is an attractive takeover target because of its national reach and strong brand recognition in the world’s 12th-largest economy.
Twenty-First Century Fox and CBS are Ten’s largest creditors. Lachlan Murdoch and his Australian co-bidder, television entrepreneur Bruce Gordon, were also major Ten shareholders.
Gordon filed the court action seeking to delay the CBS takeover, arguing the administrators had not properly informed creditors of their options.
After New South Wales state Supreme Court Judge Ashley Black agreed to let Twenty-First Century Fox join Gordon’s action, a lawyer for the US company said the terms of the CBS offer were unfair.
“They are getting 100 cents in the dollar and we seem to be getting 1.75 cents in the dollar,” lawyer Ian Pike told the court.
Pike did not refer to a rival offer from Lachlan Murdoch and Gordon, but Gordon’s lawyer, Andrew Bell, told the court his client was concerned administrators “made the decision not to put the competing (offer) to the creditors.”
The hearing continues.


Conservative U.S. commentator Charles Krauthammer dies

This is the final verdict, my fight is over, wrote Krauthammer on June 8. (Corpus Christi Caller-Times via AP)
Updated 22 June 2018
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Conservative U.S. commentator Charles Krauthammer dies

  • Krauthammer was a fixture on the Fox News Channel as well as on editorial pages of the Washington Post and other US newspapers
  • The cause of death was cancer of the small intestine

WASHINGTON: Pulitzer Prize winner Charles Krauthammer, who gave up a psychiatric career to become one of the leading conservative political commentators in the US media, died on Thursday at the age of 68, the Washington Post and Fox News said.
Krauthammer was a fixture on the Fox News Channel as well as on editorial pages of the Washington Post and other US newspapers.
His work had been curtailed since having an abdominal tumor removed last August and in an open letter on June 8 he said doctors told him that he had only a few weeks to live due to a recurrence of the cancer. “This is the final verdict,” he wrote. “My fight is over.”
The cause of death was cancer of the small intestine, his son, Daniel Krauthammer, told the Post.
Less than a month earlier, Krauthammer had told a Fox colleague that the worst appeared to be behind him.
Krauthammer, who in 1972 was left paralyzed from the neck down after a swimming pool accident while attending Harvard Medical School, was known for a dour expression, wry humor and sharp intellect.
He was a regular on Fox’s weeknight show “Special Report,” and also wrote a column that was syndicated to hundreds of newspapers.
“We are deeply saddened by the loss of our colleague and friend ... A gifted doctor and brilliant political commentator, Charles was a guiding voice throughout his time with Fox News and we were incredibly fortunate to showcase his extraordinary talent on our programs,” Suzanne Scott, CEO of Fox News, said in a statement.
Krauthammer gave mixed reviews to President Donald Trump, questioning his “loud and bombastic” approach to the job and calling him a charlatan while praising actions such as withdrawing from the Paris climate accord and nominating Neil Gorsuch to the Supreme Court.
He had been a leading critic of President Barack Obama and what Krauthammer perceived as his “social democratic agenda,” while supporting George W. Bush’s intervention in the Middle East. He also liked President Ronald Reagan’s stand against communism and popularized the term “Reagan Doctrine” to describe it.
Krauthammer was born in New York City on March 13, 1950, and grew up there and in Montreal, Canada. During his 14-month recovery from the diving accident, Krauthammer kept up his studies from his hospital bed and graduated on schedule from medical school in 1975. He then worked as a psychiatrist at Massachusetts General Hospital, also studying manic depression.
In 1978, Krauthammer moved to Washington to work in psychiatric research for the administration of Jimmy Carter, who he later would call a failed president, and drifted away from psychiatry. He became a speechwriter for Carter’s vice president, Walter Mondale, before writing opinion pieces for The New Republic and Time magazine.
He joined the Washington Post and won the Pulitzer Prize for commentary in 1987. In 2006, the Financial Times named him the most influential commentator in the United States.
“I leave this life with no regrets,” Krauthammer wrote in his farewell statement. “It was a wonderful life ... I am sad to leave but I leave with the knowledge that I lived the life that I intended.”
In a Fox News special about his life, Krauthammer said he never dwelled on the day he hit the bottom of a swimming pool with his head, severing his spinal cord.
“I made one promise to myself on day one — I was not going to allow it to alter my life,” he said. “On the big things in life, the direction of my life, what I was going to do, that wouldn’t change at all.”
Besides his son, Krauthammer is survived by his wife, Robyn, who he met while studying at Oxford before medical school.