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Article: News Corp. Buyback May Mean Stalled Talks
- Article from:
- AP Online
- Article date:
- June 13, 2005
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
06-13-2005
Dateline: NEW YORK
News Corp. has approved the repurchase of up to $3 billion of its shares, a sign that a deal to buy Liberty Media Corp.'s roughly $8.4 billion News Corp. stake may not be close at hand.
Top executives at the New York-based media conglomerate have said a buyback wouldn't be prudent as long as the company is negotiating with John Malone's Liberty Media to buy at least part of its 18 percent voting stake in News Corp.
"This announcement would seem to indicate that negotiations have stalled," said Jessica Reif Cohen, an analyst with Merrill Lynch.
News Corp. Chairman Rupert Murdoch said during a conference call in May that he expected to reach a deal with ...
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