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.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of