Breakfast Deals: News muscle

No one's completely sure what News Corp's second-largest holder is up to, while Anchorage's Dick Smith purchase now looks like a bargain.

Rupert Murdoch's new-look News Corp has attracted an investor with a giant stake and deep pockets – could it be part of a push to restructure the company when Rupert Murdoch is gone? Elsewhere, Anchorage Capital Partners appears to be the clever dick as it prepares to book a big profit on Dick Smith, while Rio Tinto and the new board at Oyu Tolgoi start talks on financing the next stage of the giant Mongolian copper mine.

Southeastern Asset Management, News Corp

News Corp has a powerful new second-largest shareholder with a history of activism, and nobody's quite sure what it's up to.

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