Murdoch's Role in Yahoo Fight
Talking to both sides in the fight over Yahoo? There's a method to Murdoch.
...when Murdoch took control of New York magazine, muscling out founder Clay Felker in a move that drew national attention. Felker, who owned about 10 percent of New York's parent company, considered Murdoch a friend and ally, and appealed to him for help when his board starting leaning on him to improve profits. Recognizing opportunity, Murdoch instead went behind Felker's back and bought up more than half the company's shares. Felker, one of the magazine ... Full Story »
Posted by Beth Wellington
