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Why John Kluge is on a buying binge in Hollywood

John W. Kluge didn't get to be one of the richest men in America by being stupid. A onetime Ford assembly-line worker, he invested in a Washington radio station in 1946 and later a string of TV stations. That made his fortune in a big way in 1984, when he sold the TV stations to Rupert Murdoch for $2 billion. He was among the first to jump into cellular, too--picking up a cell-phone operation in 1983, which he sold three years later for a cool $1.6 billion.

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