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News Corp. in talks to acquire nets - Broadcasting & Cable

News Corp. in talks to acquire nets

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News Corp. is making a run at taking full ownership of Outdoor Life Network and Speedvision Network, The Wall Street Journal reports.

News Corp. is talking to Cox Communications, Comcast Corp., AT&T Corp. and founder/CEO Roger Werner about buying out their respective stakes in the two cable networks. News Corp. currently owns a one-third stake in Outdoor Life and Speedvision, which it estimates are worth about $1 billion. Cox reportedly puts the figure at $1.5 billion. Comcast isn't eager to sell.

Majority ownership of Speedvision would fit News Corp.'s strategy on the broadcast side, with a long-term dfeal to carry Nascar races a major piece of its sports programming strategy.

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