Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Murdoch Makes Gains in Italian Media Market [New York Times]
Summary: Former Italian Prime Minister Silvio Berlusconi (pictured) is at risk of seeing his dominant position in Italian media ownership threatened. While Berlusconi's media company, Fininvest, continues to dominate the Italian media scene with holdings that include the three largest private television stations, newspapers, a publishing house and a film production company, a proposed new media law favors Rupert Murdoch's News Corp., owner of Sky Italia, Italy’s sole satellite TV provider. The law will put a 45% ceiling on advertising for any single broadcaster.
Potentially impacted stocks and ETFs: News Corp. (NASDAQ:NWS).
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