Welcome to Murdock World
It’s been rumored for some time. The first indication that media magnate Rupert Murdock was interested in buying a stock in Latvijas Neatkariga Televizija (Latvian Independent Television) came a couple of years ago.
Yesterday, we found that that Murdock purchased became a sole stockholder in LNT and purchased 70 percent of stock in TV 5. This concluded the era of Latvian ownership on the national market.
From a business stand point, it makes sense. For LNT and TV 5 it’s tough to compete with TV 3 and now another TV 6, owned by Sweden’s Modern Times Group even on such a small market as Latvia.
From a national stand point, it is sad to see the last two local channels to be in the ownership of a foreign conglomerate.
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