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News Corp. CEO Rupert Murdoch gives his outlook for the U.S. and European economies and the media industry.
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Evident fastball that by the end of it all right Bob -- had broadcasted you have a thirty -- -- stake in that regulators in Europe.
Had been looking at an -- instead of saying that they didn't think that you were fixed.
To take it over to buy it outright tell even no mistake not really I didn't know -- -- -- said that a total.
-- -- -- know anything against hey doing that pay a minute a number of -- on then.
It parliamentary committee true that in when asked.
Today have any evidence is said not so you're not you're you're you you still wanna bid for -- -- to -- -- outright and the new.
That looks -- I don't who has lived on and Aaron thinking and now from that okay.
-- The world cells -- -- billions and billions of dollars and important and autumn we got good places to put -- media.
How much more bullish about America gonna have -- England -- really so you're are you pulling back.
On on on another around us guys you're -- well as via a lot more reluctant to invest in new things in Britain today.
-- I would be.
You know as a result of what you -- -- election -- -- because of what you want to not a not at all just a nation.
The fifth at.
-- the Euro and the mess and in Europe and I don't even without Florida and everything that it -- -- Europe interest and I think -- and for a very long tough -- And semi recession if not real recession.
And I just hope we don't get into that here.
With you know these costs expansions of -- government expenditure.
We are going to be energy independent.
And a few years.
The government doesn't get in the way that is happening very fast now.
At the national gas.
Will be available -- -- dollar -- gallon.
You know will.
We've got things to be very bullish about in this country -- It's you're you're you're not optimistic about Europe where you very optimism about Americans president -- What he's ever in the White House.
Obvious question -- lot to do.
-- in the White House.
And we'll see.
If President Obama gets reelected.
With the Hilton left -- be more pragmatic comeback -- of the Santa we just have to see that we got a big one today what I'm saying about.
Yes.
But it may not be when when it comes -- election people committing.
We don't not.
-- I think that.
I'm taking a medium and long term view about this country not an immediate view.
So let's look at this what you're gonna do with this new split company now of course you've been mentioning your right the shares have been rising I should disclose in the News Corp.
Shareholder -- it was like that when that happens.
-- It's do you think though that if you have a separately traded stocks for the -- -- that.
It doesn't performance well.
Pollard who suddenly.
And the presents -- thinking in the markets it'll it'll carry -- low T ratio we certainly -- are sending us absolutely.
Which would saddle up and address an -- when our middle got a lot higher and net net net to -- -- -- -- here today we'll give up better off.
The environment and for the media has look better here advertising revenues were very strong for you -- a strong political year.
Are you optimistic.
For.
You just -- media in general this year and next.
In this country.
Yes I think so.
But is changing.
You know we've seen them.
What's happened with search advertising it works and it and -- is flooded with money which was previously.
In cat in newspapers particularly Sunday news -- big monopoly ones which we didn't have any.
But.
And that there have been affected.
But television is holding on -- very very well.
Comedian is and -- the economic climate.
Is uncertain -- in this country and I would say that.
In the up fronts for the big networks.
They achieve some increases.
In in rates.
Dot.
Not in total money.
And it was a little out of this year.
That it has been in previous years.
Very quickly the the money -- their money's coming indicate what -- start at socialist that's absolutely do you leverage that born here and in the you've been buying back.
A lot of stock over the course of the last year the stock has run -- a great deal it's up 12%.
This week alone it's had a very good year in Australia it's of north of 24%.
-- today Tom what do you do with that money now.
What acquisitions would you call -- loops it will continue the buyback.
And I was gonna capitalize.
This spin -- -- publishing company and that's going to be.
Who will be signing off from the world.
And it could negative net positive cash position.
And who -- will be opportunistic and what we buy and what we do.
-- We don't have anything.
On the -- at the moment that hasn't been announced.
Regardless of who is elected -- In November man whose president -- does that ever make a difference when all is said and done with your business plans.
No I would say that.
It may kind of taxes go up -- so and we'll have missed cash.
And my and feeling is that if that happens to -- -- will slow down.
-- local and not get much better than what it is today we might have.
If you are too many in my to have the continuation where we haven't had not been other things will be going on.
Real finally quickly and you've been very patient.
How your son's -- clone but James.
In any way shape reform expanded roles in my Dora and right.
Go to those cable and -- every -- get involved so yeah.
Now this is what about -- what about chains and a more expanded role here.
But left doing it.
And that it wanted to.
Laugh and is very happy bunnies and businesses and -- him.
And loves living Hampshire oh well we'll -- so he wouldn't take over the publishing.
I think that's how they -- -- -- -- -- -- -- I just trying to get the palace intrigue you -- over.
Mr.
Murdoch it's a pleasure thank you very much on the big news that -- states.
For you as well disruptive -- again on -- day the Supreme Court the United States has upheld the the president's health care law.
A major media player and a -- date.
Healthcare -- -- its thousands of workers.
Non plus -- all of that Rupert Murdoch and his company carry on.
-- it here.
