Sydney - Consolidated Media Holdings Limited (CMH) has announced that it has received a conditional and non‐binding proposal from News Limited (News) to acquire CMH at a price of US $3.50 cash per share by way of a scheme of arrangement on a CMH board – recommended basis (the Proposal).   If the acquisition goes through, the Rupert Murdoch-owned News Corp will own 50% of Foxtel, Australia’s largest Pay-TV business. The proposal is subject to a number of conditions. These … [Read more...] about News Corp to buy Consolidated Media Holdings