The Rational Market
From the Financial Times:
Fox News Channel creator Roger Ailes renewed his contract with Rupert Murdoch's News Corp as a new US presidential administration brings a fresh opportunity for the cable news network to reclaim its heritage as America's alternative news source.
"Roger has done a remarkable job building Fox News into a force in journalism and built a great asset for News Corporation," Mr Murdoch said in a statement.
News Corp shares fell 11 per cent to $5.47 in New York yesterday.