What you really are afraid of is that you're competing against somebody who is rich and irrational. I mean, it used to be a given, a saying in the industry: Don't ever bid against Rupert Murdoch for anything Rupert wants, because if you win you lose. You will have paid way too much.

What you really are afraid of is that you're competing against somebody who is rich and irrational. I mean, it used to be a given, a saying in the industry: Don't ever bid against Rupert Murdoch for anything Rupert wants, because if you win you lose. You will have paid way too much.

You just have to be opportunistic, and try to figure out what creates value.. where the bottom is, what creates incremental value, and in what combinations.

The public doesnt particularly care for advertisements.

The fact that equities are being sold down, despite the lowest interest rates in recent history, simply means that the market doesn't see growth ahead for -very many businesses.

Synergy is the driver. There are two levels of synergy: there are operating synergies, which, you know, you'd have to be stupid not to try to take advantage of, and then there are strategic synergies. In other words, in what positions you would be more sustainable, more long term, and so on.

Recently somebody said, "Hey, you lost weight," and I said, "Yeah, thirty-five pounds and three and a half billion dollars." So I'm quite a bit lighter and more flexible than I was.