Rupert Murdoch must have spotted something very special in the media assets of Turkey’s Calik Holdings, because Europe isn’t exactly known for its rosy outlooks at the moment. Still, crisis creates opportunity and News Corp has reportedly put in a bid for ATV-Sabah of around $1 billion, with signs that its major media rival isn’t as keen on the assets. Private equity appears to be the biggest competitor. Elsewhere, investors will have their eye on Woolworths' results to see just how badly Dick Smith is deteriorating, as well as Cape Lambert for an expected share sale. Meanwhile, Slater & Gordon has won a British takeover, Gunns has secured a reprieve from its bankers, and media mouths remain shut about billionaire Kerry Stokes’ apparently lightning-fast purchase and sale of Ten Network shares.
News Corp, Calik Holding