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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...