The situation grows more interesting, thanks for your knowledgeable comments.
I've heard from several people to expect a NewsCorp bid for the Hughes interests, and GMST is one building block of the offer. We know that AT&T wants to sell Liberty back to Malone. (They've confirmed that, and we know Malone and Murdoch are old deal making buddies.)
We know Murdoch controls a significant piece of GMST, he says 46%, but if that doesn't include the various minority pieces, he could get 51% over a game of cards. I'll posit he's got them counted in the 46%, though.
We know Malone is interested in GMST, he's on the record with that.
We know Barry Diller has expressed interest in QVC's access into e-commerce via set top boxes. He's closely tied to both Malone and Comcast.
If Murdoch wants to float securities to buy Hughes satellite, he needs credibility, deep pockets and cash flow. Properly structured, GMST fills those needs, with money in from the publishers. Of course, MSFT could do the whole deal with its interest income.
It could get very exciting over the next few weeks. Henry's need for independence and closed proprietary architectures may be sorely tested in the meanwhile.
GSR |
