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Article: News Corp. to sell 20% of Fox in public offering
- Article from:
- Chicago Sun-Times
- Article date:
- June 30, 1998
- Author:
CopyrightCopyright 1998 Chicago Sun-Times. (Hide copyright information)
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NEW YORK Stakes in the Fox network, Los Angeles Dodgers and other
parts of News Corp.'s vast entertainment and sports empire will be
sold in a public stock offering by Rupert Murdoch's media
conglomerate.
News Corp. announced Monday that the Fox Group, which also
includes the 20th Century Fox movie studio and several cable
channels, will become a separate publicly traded company. News Corp.
will offer the public up to 20 percent of the new stock.
The company hopes the move will benefit News Corp.'s overall
stock price by allowing investors to judge Fox' entertainment and
sports business on its own. The strategy paid immediate dividends,
as News Corp. shares jumped $3.56 1/4, or 12 ...