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Murdoch Plans to Make a Bid for U.S. Satellite Broadcaster DirecTV
Media mogul Rupert Murdoch has put a freeze on new acquisitions as his News Corp. plans to make a bid for U.S. satellite broadcaster DirecTV, the Financial Times reported on Tuesday.
The deal would be the largest in the company's history, worth some 27 billion pounds or about $40 billion, the paper said.
"The financial people are looking under every rock for money," one senior News Corp. executive is quoted as saying.
Quoting company executives, the newspaper said Murdoch had signaled his reluctance to make acquisitions and investments outside the United States until the negotiations over DirecTV have been resolved.
"We are about to announce the biggest deal in (the company's) history, if Direct happens. So there is more caution," a News Corp. official is quoted as saying.
The satellite broadcaster is owned by General Motors.
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