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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...