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Wed Feb 5, 2020, 01:42 PM

Mike Bloomberg should just buy Fox News.

It would be a big service to the nation

21 replies, 1841 views

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Arrow 21 replies Author Time Post
Reply Mike Bloomberg should just buy Fox News. (Original post)
Sogo Feb 2020 OP
pandr32 Feb 2020 #1
LonePirate Feb 2020 #2
mahatmakanejeeves Feb 2020 #3
Sogo Feb 2020 #5
CincyDem Feb 2020 #6
roamer65 Feb 2020 #4
Sogo Feb 2020 #7
pecosbob Feb 2020 #8
mahatmakanejeeves Feb 2020 #9
Sogo Feb 2020 #10
crickets Feb 2020 #12
Jade Fox Feb 2020 #11
SuprstitionAintthWay Feb 2020 #13
NCLefty Feb 2020 #17
bdamomma Feb 2020 #14
pstokely Feb 2020 #15
jcmaine72 Feb 2020 #16
Captain Zero Feb 2020 #18
marlakay Feb 2020 #19
SmartVoter22 Feb 2020 #20
arthritisR_US Feb 2020 #21

Response to Sogo (Original post)

Wed Feb 5, 2020, 01:43 PM

1. I wish

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Response to Sogo (Original post)

Wed Feb 5, 2020, 01:50 PM

2. It would be the best money he could spend. Tilting that channel against 45 would improve America.

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Response to Sogo (Original post)

Wed Feb 5, 2020, 01:54 PM

3. He'd have to persuade the shareholders. NT

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Response to mahatmakanejeeves (Reply #3)

Wed Feb 5, 2020, 01:57 PM

5. Money talks.

And everyone's got their price....

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Response to mahatmakanejeeves (Reply #3)

Wed Feb 5, 2020, 01:57 PM

6. Shareholders are easily persuaded at the right price.

Even the most tenacious shareholder wilts in the face of a motivated buyer.

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Response to Sogo (Original post)

Wed Feb 5, 2020, 01:57 PM

4. Buy it up and shut it down.

Replace it with Bloomberg Business and Bloomberg News.

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Response to Sogo (Original post)

Wed Feb 5, 2020, 02:04 PM

7. Bloomberg has said he is willing

to spend his entire fortune to get rid of Trump.

Start with buying Fox, Mike.

Then the rwing radio stations.

Then Sinclair.

All that might turn down the heat some....

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Response to Sogo (Original post)

Wed Feb 5, 2020, 02:05 PM

8. And then go away...

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Response to Sogo (Original post)

Wed Feb 5, 2020, 02:09 PM

9. He'd have to persuade the shareholders, Part the Deux

FOX CORPORATION ANNUAL MEETING OF STOCKHOLDERS
NOVEMBER 14, 2019 AT 10:00 AM PST

Listen to webcast
Form 8-K
Notice of Meeting and Proxy Statement
2019 Annual Report

2019 Notice of Annual Meeting of Stockholders and Proxy Statement

EXECUTIVE SUMMARY
{snip}

The foregoing items of business are more fully described in the Company’s proxy statement. While all of the Company’s stockholders are invited to attend the Annual Meeting, only stockholders of record of the Company’s Class B Common Stock (“Class B Common Stock”) at the close of business on September 16, 2019 (the “Record Date”) are entitled to notice of, and to vote at, the Annual Meeting and any adjournment or postponement thereof. Holders of the Company’s Class A Common Stock are not entitled to notice and to vote on the matters to be presented at the Annual Meeting or any adjournment or postponement thereof.

Important Information for Holders of Class B Common Stock

It is important that your shares of Class B Common Stock be represented and voted at the Annual Meeting. If you are a holder of shares of Class B Common Stock, you may submit a proxy for those shares by telephone or the Internet by following the instructions on the Notice of Internet Availability of Proxy Materials, or if you requested a paper proxy card, you may submit your proxy by mail if you prefer. If you attend the Annual Meeting, you may vote your shares in person. Please review the instructions on the proxy card or the information forwarded by your broker, bank or other nominee regarding the voting instructions. You may vote your shares of Class B Common Stock in person even if you previously submitted a proxy. Please note, however, that if your shares of Class B Common Stock are held of record by a broker, bank or other nominee and you wish to vote in person at the Annual Meeting, you must obtain a proxy issued in your name from such broker, bank or other nominee. Whether or not you plan to attend the Annual Meeting, we urge you to submit a proxy for your shares of Class B Common Stock by telephone or the Internet or, if you requested a paper proxy card, by completing and returning the proxy card as promptly as possible prior to the Annual Meeting to ensure that your shares will be represented at the Annual Meeting.

{snip}

Voting: Holders of Class B Common Stock, par value $0.01 per share (“Class B Common Stock”), are entitled to one vote per share on all matters to be presented at the Annual Meeting.

Holders of Class A Common Stock, par value $0.01 per share (“Class A Common Stock”) are not entitled to vote on the matters to be presented at the Annual Meeting. The Class A Common Stock and Class B Common Stock are referred to collectively in this proxy statement as the “Common Stock.”

Unless the context dictates otherwise, all references to “you,” “your,” “yours” or other words of similar import in this proxy statement refer to holders of Class B Common Stock.

{scroll down to page 50 of the report, which is page 56 of the .pdf}

SECURITY OWNERSHIP OF FOX CORPORATION
The following table sets forth the beneficial ownership of both Class A Common Stock and Class B Common Stock as of September 16, 2019 for the following: (i) each person who is known by the Company to own beneficially more than 5% of the outstanding shares of Class B Common Stock; (ii) each member of the Board; (iii) each named executive officer (as identified under “Compensation Discussion and Analysis — Named Executive Officers”) of the Company; and (iv) all Directors and executive officers of the Company as a group.

Common Stock Beneficially Owned(1)
Number of Shares
Beneficially Owned
Option
Shares(3)
Percent
of Class(4)
Name(2)
Non-Voting
Class A
Common
Stock(5)
Voting
Class B
Common
Stock(6)
Non-Voting
Class A
Common
Stock
Non-Voting
Class A
Common
Stock
Voting
Class B
Common
Stock(6)
Murdoch Family Trust(7)
c/o McDonald Carano, LLP
100 W. Liberty Street
10th Floor
Reno, NV 89501
19,000 102,207,826 — * 38.4%
K. Rupert Murdoch(8) 4,134,524 103,629,864 — 1.2% 38.9%
Lachlan K. Murdoch(9) 151,524 1,952 — * *

I can't get the table to format correctly, but what you need to know is that the Murdoch Family Trust, of Reno, NV, owns 38.4% of the Class B Common Stock, and K. Rupert Murdoch owns 38.9% of the Class B Common Stock. When I say that Bloomberg would have to persuade the shareholders, he'd have to persuade only one of those two shareholders to sell his (its) shares of FOX Corporation.

Bear in mind that Fox News is just one part of FOX Corporation. Per the 2019 annual report, FOX Corporation "is anchored by FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations."

It's possible you could get the Murdochs to spin off FOX News Media, but you'd still have to have lots of cash.

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Response to mahatmakanejeeves (Reply #9)

Wed Feb 5, 2020, 02:12 PM

10. Bloomberg is worth 61 Billion.

There's room for a lot of persuasion....

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Response to Sogo (Reply #10)

Wed Feb 5, 2020, 03:24 PM

12. +1

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Response to Sogo (Original post)

Wed Feb 5, 2020, 02:54 PM

11. Yes!

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Response to Sogo (Original post)

Wed Feb 5, 2020, 10:43 PM

13. With the number of cable channels in existence and the no. of rightwing billionaires who'd love...

to wield the political power of a Murdoch, if somebody did buy FOX and close it down, unfortunately within a few months if not weeks a replacement would be up and operating.

FOX is at the root of so very many people's fucked-up thinking, it has been the single most guilty and malicious actor in driving our democracy to the edge of failure, and I would permanently eradicate its pestilence from our midst this instant if I could.

But it'd be for naught; the improvement would be very short-lived.

In a nation with a 1st Amendment, cable technology, and the obscenely wealthy oligarchs that America has, it's a sad fact that there's going to be a much-watched leading rightwing propaganda network masquerading as "news," into perpetuity now. Fox or its clone is an abomination that's simply out of its cage and isn't going back in.

So buying FOX would be a waste of a lot of Bloomberg's money. The billions would buy a few glorious weeks of relief, and then it'd be right back to the same toxic crap that's been going on since 1996.

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Response to SuprstitionAintthWay (Reply #13)

Thu Feb 6, 2020, 03:31 AM

17. Agreed. The viewers would gladly run to the next big thing too.

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Response to Sogo (Original post)

Wed Feb 5, 2020, 10:45 PM

14. Bloomberg

is an oligarch himself. He's got the money he could do it.

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Response to Sogo (Original post)

Wed Feb 5, 2020, 10:55 PM

15. wouldn't the Kochsuckers outbid him?

if the Murdoch's decided to sell

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Response to Sogo (Original post)

Wed Feb 5, 2020, 11:03 PM

16. He already has his own cable & news network to unquestioningly disseminate his views.


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Response to Sogo (Original post)

Thu Feb 6, 2020, 03:37 AM

18. and all the Limbaugh stations

nt

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Response to Sogo (Original post)

Thu Feb 6, 2020, 04:23 AM

19. The cult people would just use the money

To start another station.

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Response to Sogo (Original post)

Thu Feb 6, 2020, 06:15 AM

20. Better yet...

Apple buy Fox and eliminate all conservative coverage. Nothing, not a peep from the right wingers.

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Response to Sogo (Original post)

Thu Feb 6, 2020, 06:18 AM

21. Absofeckinglutely!

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