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Article: News Corporation reverses Web health deal.
- Article from:
- Screen Digest
- Article date:
- January 1, 2001
CopyrightCOPYRIGHT 2001 Screen Digest 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)
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News Corporation is to dismantle international joint venture with Internet health-content provider WebMD. At the time $1,000m partnership, inked late 1999 (see 1999/314a1), was News Corporation's biggest Internet-related deal, but value of shares in WebMD has since plummeted. News Corporation will take back full control of its cable channel, The Health Network, which was to have become 50:50 joint venture, whilst WebMD will take over 100 per cent of the pair's international joint venture to promote its products. News Corporation (Australia; +61/2 9288 3000; www.newscorp.com) will also give back 155,951 shares in WebMD that it acquired at the time of the deal ...