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Calcutta News.Net Monday 15th October, 2012

Attacking on a section of the press, West Bengal Chief Minister Mamata Banerjee Monday alleged that some media houses wanted to control the state government and had turned against her as she did not fulfil their demands.

"Look, I cannot do everything for somebody. It is time I do some plain talking. Somebody says 'do this work for me, and if you are unable to do so, then I will bully you'. If the political leaders do not work, then you show your power. But what about your 'Dadagiri' when your interests are not fulfilled?" Banerjee asked.

Banerjee, also the Trinamool Congress chief, was speaking at an event organised by party mouthpiece "Jago Bangla".

"Some people think that they would control the government. Then do it. Fight elections. No problem... we are welcoming you," said an agitated Banerjee.

She accused some media houses of projecting only "negative" news and creating "news pollution" in their bid to malign her government.

"They do not highlight any good work. When my interest is not being fulfilled, then I am airing the negative news against the government. I do not believe in this kind of journalism," Banerjee said.

The Trinamool Congress supremo pointed out that her party left the Congress-led United Progressive Alliance (UPA) central government last month to protect the "interests of the people".

Ten veteran journalists were feted at the programme.

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Some media houses think they can control my government: Mamata

COLOGNE, Germany A change to the law governing takeovers in the tiny European nation of Luxembourg could be big news global media giant Bertelsmann allowing it to fulfill its years-long ambition to take full control of Europe's number one broadcaster, RTL Group.

Revised takeover rules, which took effect this month, allow owners of more than 95 percent of a publicly traded Luxembourg company to squeeze out minority shareholders by forcing them to take a fair price buyout. Bertelsmann currently holds 92.3 percent of Luxembourg-based RTL. A buyout would give Bertelsmann full control over RTL's annual cash flow of some $1.3 billion (1 billion) money Bertelsmann desperately needs if it is to finance its ambitious international expansion plans.

The new takeover law introducing a clear rule for the squeezing out of minority shareholders is a game-changer, Margo Joris, an analyst at KBC Securities in Brussels told Bloomberg News. The law now offers Bertelsmann the possibility to take RTL private."

If Bertelsmann took full control of RTL, it could also give the German conglomerate more options as it considers a initial public offering. Last year, RTL, which had a net income of $900 million (696 million) last year, accounted for some 60 percent of Bertelsmann's total earnings before interest and taxes.

Bertelsmann recently changed its legal structure, a move interpreted by many as a first step towards an IPO for the group, which is privately controlled by the Mohn Family. The Mohns, descendants of company founder Carl Bertelsmann, have in the past resisted taking the company public.

Last month, Bertelsmann CEO Thomas Rabe presented the company's growth strategy, which would see Bertelsmann shift focus from the low-growth territories of Western Europe, to emerging markets in Asia and North America as well as putting a greater focus on digital businesses and content production. Bertelsmann has not said how it plans to finance this shift which will likely involve a number of acquisitions. Rabe recently acknowledged that the company does not have the skills required to benefit from the digital age."

In July, Bertelsmann issued 10-year bonds worth $969 million (750 million). The company currently hold around $4.65 billion (3.6 billion) in debt.

Bertelsmann has twice in 2002 and 2007 moved to take full control of RTL but withdrew both times. In 2002 a Luxembourg shareholder group rejected Bertelsmann's buyout offer as too low while uncertainty about the country's takeover laws torpedoed the 2007 attempt.

Under the new law, Bertelsmann could buy up the remaining 1.94 percent of RTL shares it requires to cross the 95 percent threshold. An independent advisor would then set a fair price for the remaining shares, a price minority shareholders would be required to accept.

Another option open to Bertelsmann would be to sell RTL shares to finance its global expansion, something the company has hinted at in the past. For its part, Bertelsmann only says it is keeping all options open regarding its stake in RTL.

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New Law Could Help a Bertelsmann Buyout of RTL

Haim Saban, the Israeli-American media mogul who once shared control of Bezeq, is weighing a return to the telecommunications industry.

Ilan Ben-Dov's holding company Scailex said yesterday that it was in talks with Saban to sell him its controlling 44.5% of Partner Communications. But the company added it was also in negotiations with otherparties to sell the stake - and that the talks with Saban had not yet yielded any agreement.

"The company is holding talks with the Saban group and simultaneously is examining other deals with additional entities," Scailex said. "No agreements have been reached with any entity and there is no certainty these talks will result in a binding agreement."

Meanwhile, TheMarker has learned that Saban also previously explored buying control of Cellcom Israel. His representatives held talks with Nochi Dankner's IDB group, Cellcom's parent company, but the discussions stopped short because Dankner sought too high a valuation for the company.

Both Ben-Dov and Dankner are carrying massive debts and need to find cash quickly. Ben-Dov was close to selling Partner back to the Hong Kong conglomerate Hutchison Whampoa in the summer, before the latter rescinded its offer.

News of the talks between Scailex and Saban lifted the shares and bond prices for all the companies involved in trading on the Tel Aviv Stock Exchange yesterday. Partner stock jumped 7.4% to NIS 21.80, raising its market valuation to NIS 3.4 billion. Scailex soared 41.8%, while its bonds rose as much as 12%, although that still left them at junk yields of up to 80%.

Of Scailex's Partner shares, 16% of the 44.5% are pledged to bondholders and 12% to Hutchison, which made a $300 million loan to Scailex to buy Partner from it three years ago.

If Saban does agree to buy Partner, he will acquire it in stages, taking the 16.6% of Scailex's Partner shares that are unpledged for a sum of NIS 550 million to NIS 650 million, or NIS 22 to NIS 25 each.

Meanwhile, Saban reportedly will open talks with Bank Leumi about buying its 5% Partner stake at the same price, or a total of NIS 200 million. Likewise, he will try and buy out other major Partner shareholders, such as Migdal Insurance and the investment house Excellence.

Market sources believe Leumi would answer favorably to an offer of NIS 25 a share, but the bank has not yet been approached. .

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Haim Saban in talks to buy Partner

The Chief Justice of the Family Court of Australia has called for tighter government controls on social media.

Diana Bryant was one of the keynote speakers at a Family Law Conference in Hobart.

She said social media was now having a major impact on family court proceedings and it was very difficult to control.

"On YouTube at the moment there are some really distressing videos of parents manipulating their children and they're available for anyone to watch," Ms Bryant said.

"That's something that's never happened before.

"We have social media, it's there, and the legislators do need to find some way of dealing with it."

Geoffrey Sinclair from the Law Council of Australia said comments on Facebook and Twitter, or videos on You Tube, were very hard to control.

"We are seeing more and more of details of cases being put into public media by disgruntled litigants," he said.

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Family court chief calls for social media controls

Im telling our people, if you have an opponent with a pulse, you need to run as if your political life depended on it. State Senate President Pro Tem Donald Williams, D-Brooklyn, CTMirror.com, Oct. 8.

While the vast majority of media attention has been focused on the U.S. Senate race this year, and the prospects of Republicans gaining control of the upper chamber, there is an equally intense battle being fought locally with control of the General Assemblys Senate chambers at stake. Democrats hold 22 of the 36 Senate seats. Republicans need only to flip five seats to take control. Not an easy task, but not impossible given the current political climate. There are four open Senate seats in this years election as a result of incumbents choosing to retire three Democrats and one Republican. Probably no contest is being more fiercely fought than the 19th Senate District seat being vacated by Sen. Edith Prague, D-Columbia, which could go either way. State Rep. Christopher Coutu, R-Norwich, and Sprague Democratic First Selectman Catherine Osten are engaged in a hotly contested battle fueled by a general dislike for each other. This ones personal. Another contest that should have Democrats concerned is the 33rd Senate District seat being vacated by Sen. Eileen Daily, D-Westbrook. Freshman state Rep. James Crawford, D-Westbrook, a retired teacher, is being challenged by Republican newcomer Art Linares, also of Westbrook and a former student of Crawfords. But theres an added twist in this contest a third party candidate, Melissa Schlag of Haddam. Schlag is the Green Party candidate and former executive director of the Citizens for Protection of Public Lands, the grassroots organization that successfully fought the controversial Haddam land swap. Crawford voted in favor of the swap last year, but has since changed his position. An open seat in Bridgeport is likely to remain in Democratic hands, meaning Republicans will have to oust two or three other Democratic incumbents to take control of the Senate a tall order. But the winds of change may favor the GOP if and its a big if Republicans can turn a handful of Senate races into a referendum on Democratic Gov. Dannel P. Malloy. Since taking office in January 2011, the governors approval ratings have not risen above 50 percent. His best showing was in a March Quinnipiac University poll where his popularity climbed to 44 percent with 45 percent disapproving of his job performance. If GOP challengers can tap into the anger of the electorate over high taxes and high unemployment by focusing on Malloys policies, and their Democratic opponents support of those policies, its possible. Williams advice to his fellow Democrats to run as if your political life depended on it shouldnt be ignored. Ray Hackett is The Bulletins editorial page editor. He has more than 20 years covering Connecticut politics. He can be reached at (860) 425-4225 or rhackett@norwichbulletin.com

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Hackett on Politics: Battle for Senate control isn’t just about Washington