The Observer takes another look at the Murdoch takeover today, and argues that the Bancrofts were kinda misled by their advisers about the takeover deal. Why? Well, it has to do with James Ottaway Jr.'s rather unfortunate choice of words ("30 shekels of silver to their investment bankers, and 30 shekels of gold to their corporate lawyers") about how much money the Bancrofts had to shell out to their outside advisers to get the deal done. $30 million! And all of it was paid by... News Corp.? The most obvious problem being: say that Rupert was reportedly working on this deal for two years. The Bancrofts were working on it for, what, two months? Yeah.
The Bancrofts Were Totally Outgunned
12:00 PM on Thu Aug 2 2007
By Doree Shafrir
589 views
23 comments







Comments
It's to the point where I'd rather see a post on Julia Allison than another post about the Bancrofts/Rupert/Dow Jones.
I haven't cared this little about a story since Barbaro was headed to the glue factory
@ModestProposal: Oh, you should be careful what you wish for....
They treated this whole thing like good ol' Rupe woke up one morning and said, "I have a whole lot of money...What can I buy today?"
The investors outside of the family who thought this was a great idea and the advisors who were paid to say this was a great idea deserve any karmic retribution coming to them more than R.O.B.
@Catastro-Nom: >They treated this whole thing like good ol' Rupe woke up one morning and said, "I have a whole lot of money...What can I buy today?"<
Actually, that's exactly how it happened. But I think it was more like, "Smithers, I have a whole lot of money...What can I buy today?" / "How about the Wall Street Journal, sir?" / "Excellent."
@Choire: I'm sure Ed Butler will finish his next e-mail within a half hour or so.
@KarenUhOh: Two dirty words here today: VOIR DIRE.
@Catastro-Nom: Right? I love how Christopher Bancroft took such a principled stance, then it turned out he was just holding out for News Corp to pay his bills.
@Choire: From the Latin, "We're fucked."
@KarenUhOh: Does anyone want a job blogging? It's hot, and I'm too lazy to make coffee. Sorta feeling done for the day?
@Choire:
Did Balk finally walk out?
@Choire: Love to help you. But I'm kind of busy trying to arrange a three-day weekend around Ted Turner's schedule. Oh, and, you know, vituperating and shit.
@Choire:
Ooh, yes let's do tradesies!
I'll blog and you can review resumes all day. Do a shot every time you read the words "adept at [insert name of software program]" or "motivated", "team-player", or "initiative."
You'll have alcohol poisoning within the hour.
Hmm, sounds more like a job for Balk...
@Catastro-Nom: Jury farging duty. Can you imagine? Do you want him all ON YR JURY, JUDGIN YR CRIMES?
@KarenUhOh: Circle-jerk of vituperation, activate!
@IBentMyWookie: Wow, you just made me want to strangle myself dead! Is there any worse document in the world than a resume? I'm including the 1040EZ here.
It's just that the voir dire has dragged on two days? I do want him judgin mai crimes. But I don't think most lawyers do. Smart people, you know, too many opinions. He won't be seated. Impossible. Isn't it so, Karen?
@Choire:
The world works in mysterious ways. He was so happy when the Conrad Black trial was over...
@lucio: I don't see why he doesn't just leave My Cock down there. As a stand-in.
I blog! I blog good. @Choire: I kinda think he'd be amazing on jury duty. Someone would say "This guy's obviously guilty of rape", and then Balk would pipe up "Well, yah it's rape. But it's not like... Braunstein-style rape. Chill out, sweetcakes."
@KarenUhOh: What the fuck good is an anthropomorphized cock otherwise?
@Choire: What's the benefits package like? I'm adept at blogging, I've got a ton of initiative, I'm a team player, and motivated to drink as much as Balk.
I always thought Balk would be more likely to end up on the stand than in the jury box.
Balk is just the type of person I'd want to fill my jury box.
@Choire: Wait, shit, I just thought of something. "Jury duty" isn't code for "Promises", is it?
Start a discussion:
Login with your username and password below. Or comment on this post via email.
Forgot your username or password? New User?