For the journalists at CNN—everywhere, really, but especially at CNN—now is an appropriate time to become very afraid.
The blockbuster news that Rupert Murdoch bid $80 billion for Time Warner—and was at least temporarily rebuffed—points to an impending seismic shift in the media landscape. And, as the New York Times points out today, nowhere would that shift be felt more than in the business of televised sports. A Fox takeover of Time…
Twenty years ago The Ring magazine asked the question, after Mike Tyson's rape conviction, "What If Mike Tyson Had Never Gone To Jail?" The cover story posed a counterfactual in which Tyson did not receive a guilty verdict on his 1991 indictment for rape, confinement and criminal deviant conduct.
Well, this isn't good. Sports Illustrated's parent company, Time Inc., is going to spin off from its very rich corporate overlord, Time Warner. Time Inc.'s 21 magazines—which include SI, Time, People and Entertainment Weekly—will be tossed aside into a new public company.
What was rumored last week has been officially announced: News Corporation will purchase 49 percent of the YES Network, and become the single biggest shareholder in the single most lucrative regional sports network in the country.