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Article: News Corporation Announces Exchange Offer For Publicly Held Fox Entertainment Group Common Stock.
- Article from:
- Business Wire
- Article date:
- January 10, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) today announced that it has made a proposal to its subsidiary Fox Entertainment Group, Inc. ("Fox") to acquire all of the shares of Fox Class A common stock (NYSE: FOX) that News Corporation does not already own. News Corporation intends to effect the transaction through an exchange offer made directly to Fox stockholders. News Corporation will commence the exchange offer later today.
News Corporation currently owns approximately 82.1% of the equity and 97.0% of the voting power of Fox through its ownership of approximately 59.1% of the outstanding shares of Fox Class A common stock and 100% of the ...