“It would be foolish to bet against him”: Sir Martin Sorrell discusses Murdoch’s plans to buy Time Warner
Sir Martin Sorrell believes that Rupert Murdoch’s move to buy Time Warner will be successful, although he does think that Jeff Bewkes has done a good job with the company.
Speaking to Bloomberg Television's Trish Regan, the CEO and founder of WPP stated “When Rupert moves, he usually moves successfully... it would be very foolish to bet against him.”
Despite Murdoch’s original offer for the company being dismissed, it is believed that he is willing to pay more for the company and will not be giving up on the plan.
Sorrell believes that this is a good move: “I would say the deal has a lot to offer. It creates a very powerful combination, US cable and sports, obviously TV and film globally. HBO is a really interesting asset that I’m sure Fox can – can leverage very successfully in a very powerful international cable operation."
Despite this, Sorrell does think that Time Warner CEO Jeff Bewkes has done a good job: “if you look at what has happened to the Time Warner share price over the years since Jeff has been in control of the business, it’s done superbly well.”