Murdoch targets Balkans for new News land grab
Sunday 13 November 2005
Rupert Murdoch, chairman and chief executive of global media conglomerate News Corporation, is looking to Bulgaria for his next land grab.
News Corp, through its subsidiary Balkan News Corporation (btv), is planning to spend an estimated £50m on bolt-on acquisitions such as radio and outdoor advertising businesses over the next months.
Analysts say Eastern Europe offers far better investment opportunities than the mature media market in Western Europe, which suffers from sluggish advertising growth, yet valuations of media companies remain high.
GDP growth of at least 5 per cent is forecast in Bulgaria for this year, more than twice the growth forecast for the UK and some five times higher than eurozone forecasts.
Many media assets in Eastern Europe are part of industrial conglomerates and are not fully exploiting the growing consumer goods market and the advertising revenue it brings in. Governments are also selling new broadcasting spectrum, or bandwidth, which is being released by the military, providing further opportunities for expansion. Other media groups looking to buy in Eastern Europe include Media Times Group and Central European Media Enterprises, run by tycoon Ron Lauder.
Daniel Sandelson, partner at law firm Clifford Chance, said radio and television companies in Ukraine and Belarus could be next on the shopping list. "Media corporations look at emerging markets close to Europe for a number of reasons. They see the possibility of above-average growth as the market matures, the prospect of better regulation... and the chance to use rights they hold in popular international material to outstrip domestic competition. The Ukraine and Belarus look to be the next exciting audio-visual markets."
VMAs 2015: Was Nicki Minaj and Miley Cyrus' awkward acceptance put-down real or staged?
Bank Holiday Monday opening times: Are Tesco, Asda and other supermarkets open today?
The nine most warmongering countries in the world revealed
Isis releases graphic video showing four Shia 'spies' being burned alive in Anbar, Iraq
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
- 1 VMAs 2015: Was Nicki Minaj and Miley Cyrus' awkward acceptance put-down real or staged?
- 2 If you're not already angry about the migrant crisis, here's a history lesson to remind you why you really should be
- 3 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 4 Chaos breaks out in courtroom as father attacks killer of three-year-old daughter
- 5 Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
COMPETITIVE + Excellent Benefits: Guru Careers: A Lead Systems Developer / Sof...
Negotiable: Recruitment Genius: The world's leading financial services careers...
£28000 - £30000 per annum: Recruitment Genius: The Digital Marketing Executive...
40-45K DOE + Benefits: Guru Careers: An Account Manager / Senior Account Manag...