Murdoch In Berlusconi Media Bid

Rupert Murdoch has made a bid for Silvio Berlusconi’s publishing and television empire.

He has offered slightly under £1.4bn for 51 per cent of Berlusconi’s three television stations and Publitalia, the advertising arm of his Fininvest group. Fedele Confalonieri, chairman of Fininvest and the manager most directly involved in the Murdoch bid, made it clear he judged it opportunistic and too low.

Until now Berlusconi has been reluctant to concede majority control in any part of his Empire; however, the concentration of his media ownership has been strongly opposed in political circles.