'Dad I'll Skype you'.. Can I borrow $3b ?

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Dear Dad,
I have left NewsCorp to pursue other avenues of business.
Namely, I'm buying Skype. If you won't fork out $3 billion, I will.
Oh Dad, BTW, can I borrow $3B ?
Thanks
Sarah sends her love
L

Just when you think Lachlan Murdoch's resignation is the biggest News4Corp, the one billion minimum Draper wants for Skype, and $100M Yahoo offer a joke, now in reality appears to be closer to $3b : "And the Google of VoIP looks like it might be Skype, which was almost sold last week to Rupert Murdoch's News Corp. for $3 billion." Very interesting analysis :

"Skype comes from the people who did the Kazaa peer-to-peer network application that drives record company executives mad while simultaneously loading spyware on your PC... Skype sees its payday coming primarily by linking its system to regular old telephones... Skype has 20 million regular users (there are 2.6 million signed-in right now as I am writing this).. The big difference between Skype and Hotmail or ICQ is that Skype threatens existing, highly profitable franchises. As free e-mail, Hotmail may have threatened paid e-mail services, but there were no hugely profitable paid e-mail services. And ICQ threatened nobody. But Skype absolutely takes money out of the pockets of existing telephone companies. And since the value of a telephone subscriber is generally a known quantity, the value of an active Skype customer can be at least guesstimated...If Skype really has 20 million active users and the company is worth something near $3 billion, then the market value of a Skype customer is $150...While that may seem like a lot of money, it is around 10 percent of the imputed value of a traditional telephone, mobile telephone, or cable television customer.

This lower value evidently factors in the ephemeral nature of a Skype customer who might disappear forever at any moment, or go for months without using the service... Rupert Murdoch wasn't really serious and mainly looked at Skype to see the company's books and to learn more about the VoIP business without having to pay for the lesson...It also means that whether News Corp. is the purchaser or not, Skype WILL be sold sometime in the near future... But I think the most likely purchaser of Skype would be a mobile telephone company. Since Skype service requires broadband, and broadband so far is inherently fixed, Skype threatens only incumbent FIXED phone service, not mobile service. Skype causes headaches for Verizon, but not for Verizon Wireless. So Skype would appeal most to mobile phone carriers who have no fixed telephone assets. That means no offers from SBC, BellSouth, Sprint, or Verizon, just to speak of U.S. carriers, but Skype might be supremely attractive to a Vodaphone or an NTT DoCoMo, both of which have the ability to finance such a deal effortlessly..Of course, the rest of the VoIP industry loves this. If Skype is worth $3 billion, then so is Vonage and maybe Packet8.

This purchase will validate the VoIP industry, give it a per-subscriber value number that can be used to justify more debt, raising more money that can be used to further undermine those creaky old phone companies. And that may be the greatest reason why Murdoch was interested in the first place. By putting Skype in play, he distracts for no money at all most of the major media companies. And while they try to figure out how to respond to VoIP, old Rupert will be attacking them on some completely other front. He'll be stealing their shoes. "

"...Dear Colleagues,You may have already seen the announcement that I have decided to resign as an executive of News and that I will remain a director. I would have liked to talk to you all personally about my decision but clearly that's impossible so I hope this email will go some of the way.As you can imagine, this was a very difficult decision. And while it was of a personal nature, it is important to me that you know that it was not made lightly. Only after long and hard deliberations over many months did I come to my final conclusion that now was the time for me to take this next step forward in my life and my career.

Growing up in and around the company, I spent my most formative years looking up to the men and woman of News Corporation with great admiration and deep affection. I knew from around the time I could walk that I wanted to join this great team of people and share with you the thrill of working for a truly unique and exciting company.Since early days cleaning presses on the old Daily Mirror in Sydney to publishing the New York Post, from interning as a sub at News International to running our US television stations, from working alongside you from Rome to Darwin, my admiration for you and your work has only grown stronger. Along the way we have shared many adventures and forged many strong and lasting friendships.

Going forward we face many difficult challenges as the media world evolves at a pace never seen before. As our markets fragment we must lead the way in finding ever more new and exciting relevance to those who read our newspapers and watch our programmes. I am looking forward to exercising my new role as a non-executive director to help steer us through the next generation of media challenges and opportunities.News is the most truly global of all media companies.

Our strength lies in our local management in markets around the world, not just in Los Angeles or New York. This culture is unique and, coupled with great leadership from my father, provides a powerful engine for growth.Needless to say I will be watching closely and anticipate celebrating your many successes for years to come. There is no more talented team of creative professionals in the world. You will go from strength to strength.

On a personal note Sarah and I are looking forward to returning home to Sydney with our son, Kalan. I know how much many of your husbands and wives, children and friends sacrifice for this company, often with little official recognition. I'd like to take this opportunity to thank you and your families, for your dedication, loyal support, and friendship over so many years.

Very sincerely, Lachlan"