Posts Tagged ‘News Corp’

UK Govt gives green signal to News Corp for BSkyB takeover

March 27, 2011

Media baron, Rupert Murdoch’s News Corp has taken a huge step forward. The UK government has cleared the way for the company to fully acquire satellite television company British Sky Broadcasting Group Plc (BSkyB). The government gave the signal after accepting News Corp’s undertakings on media plurality concerns.

News Corp, which is the world’s third-largest media conglomerate and owns Fox Broadcasting, 20th Century Fox movie studios, The Wall Street Journal, The Sun, The Times and The Sunday Times, had earlier in June 2010 announced its intentions to take over Britain’s largest pay TV operator BSkyB completely.

News Corp currently owns around 39 per cent of BSkyB and plans to buy the remaining 61-per cent stake for a sum of almost £7.8 billion ($12.7 billion).

The government has also issued a notice of consultation seeking views as to whether News Corp’s undertakings are sufficient after considering that it is likely to draw heavy criticism from the public on media plurality raised by the merger. The closing date for responses is fixed as 21 March.

News Corp has offered to distribute the shares in the company amongst the existing shareholders of BSkyB in line with their shareholdings, with News Corp retaining a 39 per cent stake.

News Corp increases stake in Premiere to 25.01 %

May 22, 2008

News Corporation has secured additional shares in leading German pay-TV operator, Premiere AG, increasing its total stake to 25.01 percent, from the earlier holding of 22.7 %.

The recent move has made News Corp a majority stockholder for the Premiere’s June annual general meeting based on previous attendance. Prior to the recent increase, the global media conglomerate in April has boosted its stake to 22.7 percent from 19.9 %.

News Corporation had total assets as of March 31, 2008 of approximately $ 62 billion and total annual revenues of approximately $ 32 billion. The activities of News Corp are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin.

News Corp, Judith Regan reach settlement

January 29, 2008

Judith Regan and News Corporationh have settled their $100 million lawsuit arising from the termination of Regan’s employment in December, 2006. The parties are pleased that they have reached an equitable, confidential settlement, with no admission of liability by any party.

News Corp. said, “After carefully considering the matter, we accept Regan’s position that she did not say anything that was anti-Semitic in nature, and further believe that Regan is not anti-Semitic.Regan is a talented publisher who created many award-winning and best selling books during her twelve and a half years at the company. News Corp. thanks Regan for her outstanding contributions and wishes her continued success.”

Regan said, “I am grateful for the opportunity to have worked with so many gifted people and am looking forward to my next venture.”

Regan’ lawsuit relates to her dismissal from News Corp and its publishing house, HarperCollins, but captured the public’ attention for its intriguing accusations of smear campaigns and cover-ups.