Key Developments: News Corp (NWSA.O)
23 Jul 2014
Latest Key Developments (Source: Significant Developments)
News Corp announced that it has completed the separation of its businesses from 21st Century Fox (formerly called News Corporation), effective today at 4:30 pm EDT. The new News Corp is a global network of valuable and complementary brands in news and information services, sports programming in Australia, digital real estate services, book publishing, digital education, and pay-TV distribution in Australia. News Corp’s global portfolio includes Amplify, The Australian, The Courier Mail, Dow Jones, Fox Sports Australia, Foxtel, HarperCollins, Herald Sun, The New York Post, News America Marketing, REA, The Sun, The Sunday Telegraph, The Sunday Times of London, The Times of London and The Wall Street Journal. Full Article
News Corp And The New News Corporation Inc Execute On Stockholder Rights Agreements; Announces Name Change
News Corp and New News Corporation announced that, in advance of the separation of the Company into two distinct publicly traded companies (the Separation), 21st Century Fox (which will be the new name of the Company after the Separation) and the new News Corporation Inc, the Company and the new News Corporation have each entered into the previously announced stockholder rights agreements as of June 14, 2013. In connection with the rights agreements, the Company and the new News Corporation will distribute one right for each outstanding share of their common stock held by all stockholders at the close of business on June 21, 2013, with the distribution conditioned upon the completion of the separation. Each right entitles the holder to purchase one one-thousandth of a share of 21st Century Fox Series A junior participating preferred stock or the new News Corporation Series A junior participating preferred stock (each subject to anti-dilution provisions), as applicable, upon the occurrence of certain triggering events. The purchase price for the 21st Century Fox Series A junior participating preferred stock and the new News Corporation Series A junior participating preferred stock will be the exercise price of $150.00 and $90.00, respectively, subject to certain adjustments. The rights agreements will expire on May 24, 2014, in the case of the Company, or one year after the date of the Separation, in the case of the new News Corporation. Full Article
- Rupert Murdoch's plan to buy Time Warner would help the Twenty-First Century Fox chairman make larger inroads in China, a fast-growing market that media moguls are finding hard to crack.