Rupert Murdoch re-invests in company he lost $1 billlion on earlier

The man just continues to expand his reach it seems like every month or something like that. Media King Rupert Murdoch has swallowed a 14.6% stake in German pay-TV operator Premiere for for a reported $214 million just five years after losing $1 billion in an earlier investment in the same broadcaster. It looks like Rupe did a pull out and step back after losing that $1 billion and now that things are looking a little more firm, he is back with a fresh investment. Back when he lost the $1 Billion, King Rupe described it as a black eye. But today he is singing a new tune. -SDH "Pay-TV is a core business for News Corporation and it's a category that's thriving across Europe with a multitude of new services and innovations," Rupert Murdoch said. We see enormous potential for growth in Germany and believe the time is right to invest in its foremost pay-TV business, Premiere." News Corp buys stake in German pay-TV firm [Guardian]

Tom Freston: Viacom operates in some shade of gray

It looks like former Viacom CEO Tom Freston has finally gotten his balls back and is now talking freely about how he feels about his former employer and the way they approach broadcasting. Freston recently sat down with Donny Deutsch host of “The Big Idea With Donny Deutsch,” and told it like he sees it. "Today’s broadcasters, including Viacom, operate in “some shade of gray . . . They have standards, but they’re low.” Cable programming is “getting close” to the bottom of the barrel. In the chase for ratings points . . . sensationalism is like the lowest fruit to grab . . Hey Tom was it getting close to the bottom of the barrel when you were running one of the biggest media firms in the world, or after you got canned? BOTTOM FEEDERS [NYP]