Hong Kong – Star Entertainment Holdings Limited, a wholly-owned subsidiary of News Corporation, has agreed to sell approximately 5.28% stakes in Phoenix Satellite Television Holdings Limited (Phoenix) for approximately US$92 million. Star Entertainment Holdings Limited’s total ownership stake in Phoenix will now be reduced to an estimated 12.16% following the sale. James Murdoch, Deputy Chief Operating Officer and Chairman and CEO, International, News Corporation, said, "Mr Liu … [Read more...] about News Corporation reduces stakes in Phoenix Satellite Television Holdings Limited
News Corp
Rupert Murdoch addresses code of ethics in staff memo
Rupert Murdoch has outlined in a staff memo structural changes to “redress wrongdoing, co-operate with law enforcers and strengthen News Corporation’s compliance and ethics programme company-wide”. He wrote that Gerson Zweifach, senior executive vice-president and group general counsel, News Corporation, is now the company’s Chief Compliance Officer and has assumed overall responsibility for the effort to create a more robust global compliance and ethics programme. Lisa … [Read more...] about Rupert Murdoch addresses code of ethics in staff memo
Australia’s competition regulator approves News Corp’s acquisition of Consolidated Media
The Australian Competition and Consumer Commission (ACCC) announced that it would not oppose the proposed acquisition by News Corporation (News Corp) of 100% of the shares in Consolidated Media Holdings Limited (CMH). The bid has also been backed by billionaire James Packer, who owns 50% of Consolidated. As per the terms of the deal, News Corp will get a 50% stake in pay-TV network Foxtel and full ownership of the Fox Sports business in Australia. It will also get broadcast rights to the most … [Read more...] about Australia’s competition regulator approves News Corp’s acquisition of Consolidated Media
News Corporation to separate entertainment and publishing businesses
New York - News Corporation has announced that it intends to pursue the separation of its publishing and media and entertainment businesses into two distinct publicly traded companies. Upon the closing of this transaction, shareholders will hold interests in both newly-formed companies. The proposed transaction will create a global media and entertainment company, encompassing News Corporation's broadcast and worldwide cable networks, leading film and television production studios, … [Read more...] about News Corporation to separate entertainment and publishing businesses
News Corp to buy Consolidated Media Holdings
Sydney - Consolidated Media Holdings Limited (CMH) has announced that it has received a conditional and nonâ€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
No go for Hulu
Hulu, the US catch-up TV portal is no longer up for sale. In a joint statement from its owners News Corp., Providence Equity Partners, The Walt Disney Company and the Hulu senior management team, the company said the sale process had been terminated. “Our focus now rests solely on ensuring that our efforts as owners contribute in a meaningful way to the exciting future that lies ahead for Hulu.” The partners said they looked forward to working together towards greater success. … [Read more...] about No go for Hulu
