Murdoch Keeps Poison Pill At The Ready
The complicated chess game between News Corp Chairman Rupert Murdoch and Liberty Media chief John Malone continued to play out at News Corp's annual meeting in New York on Friday, when the board extended a poison-pill measure for two years. The measure was designed by Murdoch to prevent Malone from increasing his 18-percent stake in the media giant and thereby take control of it. Analysts pointed out that 42 percent of shareholders voted against the measure. At the meeting Murdoch was asked about recent reports suggesting that Liberty would swap its stake in News Corp for News Corp's controlling stake in DirecTV. He sidestepped the question, however, responding, "Time will tell. We're not in any rush or hurry."