|
|
Article: NEWS CORP STOCKS SOAR POST AOL-TIME WARNER MERGER.
- Article from:
- AsiaPulse News
- Article date:
- January 11, 2000
CopyrightCOPYRIGHT 2000 Asia Pulse Pty Ltd. 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)
|
MELBOURNE, Jan 11 Asia Pulse - Shares in Rupert Murdoch's News Corp Ltd rocketed more than four dollars to a record high today, adding $A16 billion ($US10.49 billion) to the company's value.
The buying spree was sparked by new demand for media stocks following the world's largest ever corporate merger between America Online and Time Warner, which created a company worth $US350 billion ($A524 billion).
That sent the Australian sharemarket on course to its own all-time closing high with the benchmark all ordinaries ending up 61.5 points higher at 3164.6.
News Corp shot up in opening trade and never looked back, with its ordinary and ...