News Corp. turns to Latvian TV
Media empire buys up TV channels
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News Corp. Europe, a subsidiary, bought a 100% stake in Latvian Independent Television and a 70% stake in TV5 for an undisclosed sum.
"LNT and TV5 are the beginning of the development of News Corp.'s network in our region," Andris Ekis, chairman of LNT, commented to the Russian-language NovoNews agency. Ekis added News Corp. was particularly interested in the Estonian, Lithuanian and Belarusian media markets.
Murdoch has also made a $5 billion bid for Dow Jones & Co., publisher of the Wall Street Journal.
