Murdoch Bids $350m For Dodgers

Rupert Murdoch, world media big-hitter, has taken a swing at the US sports industry with a record bid of more than $350 million to buy the Los Angeles Dodgers baseball team. A deal, which is dependent on approval by other major-league team owners, would bring Murdoch into step with media groups such as Walt Disney and Time Warner, which already own ice hockey, baseball and basketball franchises.

It would also give him a stadium site close to central Los Angeles, a rich source of merchandising prospects and entertainment spin-offs, and reinforce his presence in international sports programming. News Corp has identified sport - free of language barriers - as a key driver of international growth.

Fox Television, Murdochs News Corporation offshoot, has eight regional cable sports networks, and is the leading owner of conventional TV stations in the US with a current tally of 22.His international TV interests embrace Japan, Latin America and Europe, where Britains BSkyB is a leading supplier of subscription sports programmes.

The high price for the Dodgers - almost double the previous record, paid for the Baltimore Orioles four years ago - may also flush out other sports team owners willing to sell to entertainment companies.

Fox has prevailed over an array of suitors including Time Warner, Mr Robert Shapiro, a member of O J Simpsons legal dream team, and Richard Riordan, mayor of Los Angeles. Backed by cash reserves of more than $2 billion, Murdoch must now win approval from the other major league owners.

The owners were yesterday expected to approve further negotiations, and according to Peter OMalley, head of the family which has owned the Dodgers since 1950, a deal should be ready for approval by the league next month.

We are in the fifth month of what we expected to be a six-month process, Mr OMalley said on Monday night, confirming he was negotiating exclusively with Fox. Copyright Financial Times Limited 1997.