Rupert murdoch, boss of News.Cor-poration, and John Malone, chairman of Liberty Media, have until now behaved like friends and allies in the media industry. But last week Liberty Media announced that it had made a deal with an investment bank that will allow it to raise its holding of News Corporation's voting shares from 9% to 17%. Mr Murdoch reacted as if his fellow media mogul had declared all-out war. On Monday he unveiled a poison-pill "shareholder rights" plan designed to prevent a hostile takeover. Liberty Media has since tried to calm things down. Its chief executive, Robert Bennett, said that the firm is a "large, happy, friendly shareholder" in News Corporation and that it has no plan to try to wrest control away from the Murdoch family. Mr Bennett also hinted that Liberty Media would simply like the two firms to talk about potential deals. Many analysts think that Mr Malone-the "cable cowboy", who is widely regarded as the only media deal-maker on a par with Mr Murdoch-wants only to wield extra clout in such talks.
展开▼
