Force out Murdoch drops the Dodgers
Rupert Murdoch's News Corporation has invited bidders for the Los Angeles Dodgers, the loss-making baseball team that the company bought little more than five years ago.
News Corp is seeking at least $400m (£247m) for the team, which includes Eric Gagne, above, and has mandated the New York investment bank Allen & Co to find a buyer. The trend among media groups to snap up sports assets is firmly in reverse. AOL Time Warner is considering selling the Atlanta Braves and Walt Disney has put the Anaheim Angels baseball team up for auction. Sources said that owning the Dodgers, which lose about $50m a year, had become less of a necessity as News Corp has firmly established its sports cable network on the west coast.
News Corp is seeking at least $400m (£247m) for the team, which includes Eric Gagne, above, and has mandated the New York investment bank Allen & Co to find a buyer. The trend among media groups to snap up sports assets is firmly in reverse. AOL Time Warner is considering selling the Atlanta Braves and Walt Disney has put the Anaheim Angels baseball team up for auction. Sources said that owning the Dodgers, which lose about $50m a year, had become less of a necessity as News Corp has firmly established its sports cable network on the west coast.
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