Don Irvine uses a July 16 Accuracy in Media post to try to make lemonade of the lemon of the News of the World scandal, as well has offering some of the most ludicrous right-wing spin so far: Buy News Corp. stock!
The storm over the scandal that has enveloped Rupert Murdoch’s News Corp is probably far from over, but in the meantime it has created a possible window of opportunity to pick up stock in the company at a substantial discount.
[…]Thanks to this week’s sell-off, the stock is now trading at a 40% discount compared to its peers, Walt Disney and Time Warner, which is double the typical gap seen since 2002.
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Just how undervalued are News Corp shares at this time. Citing a valuation from Barclays Capital, the Times reports that the cable news networks and the movie studio are worth $42 billion, which is equivalent to the company’s entire market capitalization.Even liberals should be able to recognize a deal when they see one, especially one that they helped create.
Yes, Irvine really thinks the scandal-driven devaluation of News Corp. stock is a good thing.