EmptyTaxing situation for Sky Italia
Rupert Murdoch's Sky Italia satellite service is lashing out over the Italian government's decision to double VAT to 20% on the country's pay TV subscriptions, arguing that the ruling unfairly favors Mediaset, which has a much smaller pay TV element. Sky Italia CEO Tom Mockridge warned that the move could mean Sky Italia would be forced to curtail investment in movies and sports rights if the increase impacted its subscriber numbers.
MySpace sees opportunities to buy startups for a fraction of what they would have cost six months ago. MySpace co-founder and CEO Chris DeWolfe said at the Reuters Media Summit via video conference that companies worth $200 million-$300 million have been knocking at his door to sell themselves for less than a tenth of that value.
Former AOL CEO Jon Miller, who runs Velocity Interactive Group with former Fox Interactive Media boss Ross Levinsohn, is raising funds to try to acquire Yahoo, the Wall Street Journal reported.