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James Murdoch’s Spending Spree: See Apples, Trees, Falling

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James Murdoch is widely expected to be the heir-apparent to his father Rupert Murdoch’s throne atop News Corp. He’s currently running BSkyB, an independent company in which News Corp owns a 38% stake. Recently James announced the cost of his company’s broadband investments—nearly $1.33 billion. The price tag was bigger than many expected, and share prices fell after the announcement. Today’s "Heard on the Street" column, however, points out that this might simply reflect a family trait—having a higher tolerance for short term costs and risks aimed at producing gains further down the road.

James Murdoch Opens the Wallet
[Wall Street Journal]