News Corp. linked with Rangers and Stars bids 03/08/2010 |
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Rupert Murdoch’s News Corporation has emerged as a possible bidder for the Texas Rangers and the Dallas Stars.
News Corp. is said to be interested in bankrupt baseball team the Rangers to ensure that its pay-TV subsidiary Fox Sports keeps hold of the franchise’s media rights.
The company is expected to go up against rival bidders such as Dallas Mavericks owner Mark Cuban at an auction on Wednesday (August 4). Pittsburgh attorney Chuck Greenberg and current Rangers president Nolan Ryan have already submitted a bid to buy the team.
Meanwhile, News Corp. is thought to have already made a bid to buy hockey team the Dallas Stars, which, like the Rangers, is owned by Hicks Sports Group.
In May, Murdoch hinted that News Corp. may make several investments this year, given the company's "growing air of confidence" about the economy and an abundance of cash on its balance sheet.
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