News Corp. to sell shares in new unit

Article Abstract:

The Australian holdings company News Corp. has announced that it will be offering as much as 20% of its film, television ansd sports businesses to the public, forming a new company named Fox Group in the US. Some of these businesses that make up the Fox Group include Twentieth Century Fox, Fox Television, and the L.A. Dodgers. The sale should stengthen the value of News Corp. shares, and help the corporation pay some of its $8 billion debt. The funds could also be used to make new acquisitions. The businesses that make up the Fox Group accounted for almost $7 billion of the News Corp. $11.2 billion in revenue last year.

Comment:

Formed to operate News Corp.'s film, television and sports businesses

Australia, Newspapers, Newspaper Publishers, Motion Picture and Video Industries, Motion Picture & TV Production, Sports Clubs & Racing, Spectator Sports, Newspaper publishing, Fox Group Inc.

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CBS to spin off up to 20% of radio and billboard unit

Article Abstract:

CBS Corporation, which has seen its stock plummet recently due to investor's concerns over the company's profitability, has announced plans to spin off up to 20% of its radio and outdoor advertising units through an initial public offering. The company hopes to reduce its $5 billion debt through the IPO, which is expected to raise about $3 billion. CBS, which will take a $50 million third-quarter restructuring charge, also is planning a series of layoffs and programming changes designed to restore the company's profitability.

Comment:

Has announced plans to spin off up to 20% of its radio and outdoor advertising units through an initial public offering

Radio & TV Broadcasting, Radio and Television Broadcasting, Broadcasting industry, Broadcasting, CBS Corp.

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News Corp. offer raises $2.8 billion

Article Abstract:

News Corp. raised $2.8 billion in an initial public offering of 18.6 percent of Fox Entertainment Group Inc. The third highest IPO in U.S. history will help the company pay down debt, enhance its assets and improve the price of its own stocks. The Conoco offering raised $4.4 billion and Lucent Technologies raised $3.3 billion.

Television Broadcasting, Television broadcasting stations, TV Networks, Television broadcasting industry, Abstract, Securities, Television networks, Fox Entertainment Group Inc.

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