Media firms brace for brutal year

Reuters
Posted: Thursday, Dec 04, 2008 at 0059 hrs IST
Updated: Thursday, Dec 04, 2008 at 0059 hrs IST

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New York: valuations to hunt for bargains.

Technology companies, which were often too expensive, could round out some media companies' needs to adapt more to the Internet -- particularly in the mobile device world.

NBC Universal owner General Electric Co's chief executive, Jeffrey Immelt, has said he is interested in buying media properties. Others include News Corp, with more than $5 billion in cash, and Time Warner Inc with more than $4 billion. IAC/InterActiveCorp Chief Executive Barry Diller also has said he is a potential buyer. “They've got to continue to invest in the business where it makes sense,” PricewaterhouseCoopers's Kane said....

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