Murdock set to sell stock in Fox unit

Article Abstract:

News Corp. CEO Rupert Murdoch announced plans to divest as much as 20% of his new company, the Fox Group, by the end of 1998 to raise more than $2 billion to help reduce News Corp.'s $8.5 billion debt. Fox Group includes Murdoch's Twentieth Century Fox movie and TV production studios, the Fox network and 22 company-owned stations, cable channels, such as FX and Fox News, and sports assets led by the Los Angeles Dodgers. Fox Group assets are valued at an estimated $17 billion. The plan to sell off Fox Group closely follows Murdoch's decision to sell TV Guide to United Video Satellite Group for about $ 2 billion in cash and stock.

Comment:

CEO Rupert Murdoch plans to divest as much as 20% of his new company, the Fox Group, to help reduce News Corp's $8.5 bil debt

Australia, Asset sales & divestitures, Television broadcasting industry, Television broadcasting, The News Corporation Ltd.

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Universal carves out Woodpecker icon

Article Abstract:

Seagram's Universal Studios is launching Woody Woodpecker as its mascot for television, theme parks and its merchandise. Woody Woodpecker will be unveiled as Universal's icon in June 1998 at the Annual Licensing and Merchandising Conference in New York. Meanwhile, Woody will be relaunched in November 1998 through a cartoon series for Fox Kids Network. According to Nancy Steingard of Universal Cartoon Studios, the new Woody, which has his hair slicked back, will retain most of the features of the original cartoon character.

Comment:

Launching Woody Woodpecker as its mascot for television, theme parks and its merchandise

Marketing procedures, TV Networks, Television networks, Seagram's Universal Studios

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Time Warner's Levin: Disney stance is 'silly'

Article Abstract:

Time Warner Inc CEO Gerald Levin believes that Disney's opposition to his firm's merger with America Online (AOL) is unfounded. Levin, who made the comment on Jul 18, 2000, when it released the results of its 2nd qtr 2000 earnings, attributes Disney's position to an emotional outburst by CEO Michael Eisner. Disney, in its filing with the US Federal Communications Commission, said that a merger between AOL and Time Warner could result in discriminatory and anti-competitive behavior.

Public affairs, Motion Picture and Video Industries, Motion Picture & TV Production, Time Warner Inc.

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