BREAKFAST DEALS: Murdoch's sporting chance

News Corp sizes up a New York sports channel, Coates won't float, and Fortescue moves into Australia's shale gas sector.

News Corp billionaire Rupert Murdoch looks to be moving on a New York sports channel that broadcasts local Yankees and Nets games. GrainCorp has received widespread support for its decision to reject advanced from Archer Daniels Midland. Elsewhere, Seven Group billionaire Kerry Stokes won’t get a Coates Hire float after all, instead opting for a trade sale. And finally, what’s this about Fortescue Metals Group going into Australian shale?

News Corp, YES Network

As media mogul Rupert Murdoch took the stage at New York’s Sheraton Hotel for the 2012 Benefit Dinner of the American Australian Association, his global media empire was inching closer to announcing yet another cable deal.

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