Odey Opposes Murdoch Bid For German TV Channel

May 14 2014 | 9:48am ET

Crispin Odey has son tough words for his former father-in-law. But while difficulties with in-laws are nothing new, this one could have repercussions for a major media merger—because Odey’s former father-in-law is Rupert Murdoch.

The Odey Asset Management chief has said that British television company BSkyB’s offer for Sky Deutschland isn’t good enough. “The current proposal, a nil-premium takeover of the minorities of Sky Deutschland, significantly undervalues the company,” the hedge fund said.

Odey Asset Management owns an 8% stake in Sky Deutschland. Murdoch’s 21st Century Fox owns 57%; Murdoch wants to unite BSkyB with Sky operations in Germany and Italy to create “Sky Europe.”

Odey was married to Murdoch’s oldest child, Prudence, for just over a year in the mid-1980s. In spite of the divorce—and his opposition to Murdoch’s unsuccessful effort to take full control of BSkyB in 2010—he and Murdoch are said to be on good terms.

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