… Speaking to Boston businessmen last night, Rupert Murdoch stated that he intended to set up a global 24 hour TV news service to directly rival CNN, the news broadcaster that Murdoch had his eye on as a possible purchase prior to Time Warners purchase of Turner Broadcasting System (owner of CNN) earlier in the year. Details of this new venture remain sketchy.
… Fox, Rupert Murdoch’s television network, is in exclusive negotiations with Flextech with regard to the future of the latter’s childrens channel TCC. Fox is set to take a 49% stake in the channel, in a deal worth around £30m. Flextech already has an interest in 12 other channels carried on BSkyB, is an investor with BSkyB in the Playboy channel, and is controlled by TCI – the world largest cable company.
