Rupert Murdoch’s plan to buy Time Warner would help the Twenty-First Century Fox chairman make larger inroads in China, a fast-growing market that media moguls are finding hard to crack. Time Warner’s board rejected Murdoch’s $80 billion offer, but the Fox chairman is expected to continue the chase. It would also nearly double the revenues Fox generates from the emerging media markets in Latin America and Asia/Pacific. “He sees 3 billion new consumers coming into the market and a rising middle class in China and India, and mobile devices and strong demand for content,” said Mario Gabelli, the CEO of GAMCO Investors, in an interview with Reuters Insider, “He’s going to be able to create Netflixes of his own.” Gabelli owns shares of both Fox and Time Warner.
Please Like Us!!!