LET'S MAKE A DEAL: MOGUL TO GO PUBLIC WITH U.S. ASSETS.Byline: Dave McNary Daily News Staff Writer Another day, another deal. On the next to the last day of a month that has been vintage Rupert Murdoch, the Australian tycoon announced his News Corp. would sell up to 20 percent of its American entertainment and sports assets to the public. The publicly held shares of the new Fox Group would be worth around $4 billion, making it one of the largest such initial public offerings in U.S. history. While Murdoch said the major motivation for the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. is to persuade investors to assign more value to the conglomerate's U.S. assets, analysts believe the move also underscores the 67-year-old tycoon's commitment to outhustle rivals in the race to create the world's leading media operation. ``The global assets of this company have yet to be maximized,'' said Barry Hyman of Ehrenkrantz King Nussbaum. ``You can now expand them much more easily.'' Murdoch's goal, analysts believe, is to obtain more broadcast rights and programming assets. And if Murdoch's recent moves are any indication, most of the $4 billion will be used to expand his power over professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , now based on ownership of 22 regional sports networks, the Los Angeles Dodgers "Dodgers" and "Brooklyn Dodgers" redirect here. For the American football team, see Brooklyn Dodgers (football). For the Eastern Basketball Association team, see Brooklyn Dodgers (basketball). and parts of the New York Rangers The New York Rangers are a professional ice hockey team based in New York, New York, U.S.A. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League (NHL). and Knicks teams. Murdoch also has agreed to buy 40 percent of the new Staples Center arena in downtown Los Angeles Downtown Los Angeles is the central business district of Los Angeles, California, located close to the geographic center of the metropolitan area. The sprawling, multi-centered megacity is such that its downtown core is often considered just another district like Hollywood or , and he has options to buy 40 percent of the Los Angeles Kings The Los Angeles Kings are a professional ice hockey team based in Los Angeles, California, USA. They are members of the Pacific Division of the Western Conference of the National Hockey League (NHL). and 10 percent of the Los Angeles Lakers. He also owns extensive baseball, hockey and football broadcast rights. ``At some point, Murdoch will be able to turn all these sports holdings into a critical mass that will allow him a lot of leverage over distribution,'' said Los Angeles sports consultant David Carter. ``What slows him down are the rules against cross-ownership of teams, which makes his strategy look a little disjointed.'' Denver consultant Dean Bonham Bonham can refer to:
``What I think he'll do with the money is use it to become the dominant force in American sports,'' Bonham said. ``He'll try to control as many franchises, facilities and networks as the rules and regulations will allow.'' If that sounds far-fetched, consider that during this year, News Corp. has agreed to pay $550 million annually to keep broadcasting pro football; closed the Dodgers deal; agreed to own parts of the Lakers, Kings and Staples Center; traded Dodgers All-Stars Mike Piazza and Hideo Nomo; fired Dodgers manager Bill Russell and general manager Fred Claire; and agreed to sell TV Guide. Hyman said the increased scrutiny over Fox's operations will not inhibit Murdoch. ``He already lives in Macy's front window as it is,'' Hyman said. ``Who else besides Michael Jordan leads a more public life? He's never been stymied from doing acquisitions.'' WHAT IS THE FOX GROUP? The many entities that comprise News Corp.'s Fox Group span professional sports to interactive video games. Together the tangled web of affiliates, subsidiaries and divisions generated more than half of News Corp.'s $13 billion in 1997 revenues. Fox Filmed Entertainment: Twentieth Century Fox produces and distributes feature films (such as the ``Star Wars'' trilogy, left); operates three movie studios in Los Angeles, Baja and Australia. Fox Home Entertainment: Video division distributes videos of Fox films and television programs. Fox Interactive/Fox Sports Interactive: Creates and distributes interactive video games, some based on Fox programs and films. Twentieth Century Fox Television: Creates original Fox TV programming such as: ``The Simpsons,'' ``Ally McBeal,'' ``X-Files'' (above). Fox Television Group: Fox Broadcasting Co. is the parent company overseeing network of affiliate television stations. 22 Fox-affiliate television stations make up the forth-ranked television network, behind ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. and CBS (Cell Broadcast Service) See cell broadcast. . Cable Networks: Fox co-owns three cable channels and wholly owns two - FxM and Fox News. The company has struggled to get its channels carried by regional cable companies, often competing against older, better-established players. Fox/Liberty Networks is a regional sports network. Fox News Channel is a 24-hour channel competing with CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. and CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence) CNBC Consumer News and Business Channel CNBC Congress of National Black Churches, Inc. . Fox Family Channel features family-oriented programming. FxM is a 24-hour commercial-free movie channel. FX is general entertainment and sport prgramming. Professional sports: Los Angeles Dodgers; Interests in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Knicks and Rangers; Rights to acquire stakes in L.A. Lakers and Kings. Though the Dodgers have struggled this season, the franchise is seen as a one of the most lucrative in Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. CAPTION(S): 7 Photos, Box PHOTO (1--Color) no caption (Rupert Murdock) (2--Color) (Luke Skywalker) (3--Color) X-Files (4--Color) (Oklahoma! and Sound of Music videos) (5--Color) FX (6--Color) The Family Channel (7--Color) (Dodgers player) BOX; WHAT IS THE FOX GROUP (See text) |
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