News Cycle

A look at the news, politics and journalism in today’s 24-hour media.

Audio Shows Murdoch Said Fat, Not Facts, as Alleged by Olbermann

with 2 comments

UPDATE, Feb. 12 (10:10 p.m. Eastern:) Keith Olbermann issued an on-air apology for mistakenly using the bad quote from the botched transcript.

As it turns out, Rupert Murdoch did indeed say “fat” not “facts” as alleged by Keith Olbermann and the Daily Kos.

Here is what he said, according to the audio. The disputed quote starts at the 17:57 mark:

While it’s impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We implemented strict cost cutting measures across all our operations. We reduced head count in individual businesses where appropriate and we scaled back on capital expenditures.

Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors. We also have consistently maintained a strong balance sheet, which today following our completion of the partial sale of NDS for approximately $4.5 billion in cash. Given our strong financial position, we have the reserves on hand to cover over seven years of upcoming debt repayments. And we intend to operate our businesses and balance sheet as conservative as usual.

As I noted in my earlier post, it was either a slip of the tongue or a poor job of transcription. It appears to be the latter because the first part of the sentence was completely botched as well.

So, Olbermann Watch did indeed get it right, and Keith Olbermann and the Daily Kos, both who have advanced this story, got it wrong. By the way, here’s Olbermann’s rant on Murdoch, which he comments on his version of the quote around the 3:00 mark.

So, my apologies to the Olbermann Watch and its readers, and my thanks to them for unearthing the audio.

Written by newscycle

February 8, 2009 at 12:14 pm

2 Responses

Subscribe to comments with RSS.

  1. He said “plush times”Plush (adj): luxurious, expensive or lavishnot “flushed times”


    February 8, 2009 at 3:45 pm

  2. Great thoughts you got there, believe I may possibly try just some of it throughout my daily transcription


    September 15, 2010 at 6:22 am

Leave a Reply to America47000 Cancel reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: