News Corp. Eyeing Texas Rangers

The New York Post reports that Rupert Murdoch’s News Corp., the Post’s parent company, is considering bidding for the bankrupt Texas Rangers. News Corp., through FOX, already pays the team about $35 million a year for the right to broadcast their games, and that price could rise along with the team’s popularity and ratings. Even with the team’s estimated $550 million pricetag, News Corp. could end up saving enough in broadcasting fees that the team would pay for itself, the Post reports. But News Corp. will have competition in the court-ordered auction: the group lead by Hall of Fame pitcher and Rangers team president Nolan Ryan, as well as a group led by Mark Cuban, owner of the Dallas Mavericks. Ryan’s group already tried to buy the Rangers, but the team’s lenders thought they could get a better deal at auction.