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The News Corporation's News Limited Announces Proposal To Acquire Consolidated Media Holdings Limited
The News Corporation announced that it notes the statement made by Consolidated Media Holdings Limited regarding a proposal by News Limited (News) to acquire Consolidated Media at a price of AUD 3.50 per share. News confirms it has put a conditional proposal to Consolidated Media, which, if implemented, would result in News acquiring 100% of Consolidated Media at a cost of approximately AUD 1.97 billion. If the proposal is implemented, News would double its stakes in FOX Sports Australia and FOXTEL, to 100% and 50% respectively.
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