Key Developments For News Corporation
News Corporation (NWS.O) (Nasdaq)
MGM Documents Go To The News Corporation, Time Warner Inc., Others-Reuters
Reuters reported that Metro-Goldwyn-Mayer (MGM), the film studio that is considering selling itself, has sent confidentiality agreements to about 20 interested parties including Time Warner Inc. and The News Corporation, sources familiar with the matter said. The studio has also sent these documents to Lions Gate Entertainment Corp. and Sony Corporation, as a prelude to letting interested parties examine its books, the sources said. Two of the sources said Peter Chernin, the former President of News Corp who has been advising Comcast Corp on its proposed NBC Universal joint venture with General Electric, also plans to take a look at MGM. It is unclear if Chernin had been sent a nondisclosure agreement yet. MGM is considering an auction process, but its creditors would first like to see how likely bidders value the company. The company is setting up a virtual data room to give bidders access to information. If initial valuations come in too low, the creditors might decide to stay away from an auction for now.
Microsoft Corp. And The News Corporation Eye Web Pact-DJ
Dow Jones reported that Microsoft Corp. and The News Corporation have held early talks about a plan that would see the latter being paid to de-index its news Web sites from Google Inc., the Financial Times (FT) reported, citing a person familiar with the situation. The impetus for the discussions came from News Corp., the FT reported the person as saying, however the newspaper said Microsoft had also approached other online publishers about removing their sites from Google's search engine. Microsoft's interest puts pressure on Google to start paying for content, the FT said on its Web site. It quoted a Web site publisher as saying the plan puts enormous value on content if search engines are prepared to pay us to index with them.
MEDIASET Files Antitrust Claim Against The News Corporation's Sky Italia-DJ
Dow Jones reported that MEDIASET said that it has filed a claim with Italy's antitrust regulator against The News Corporation's satellite unit Sky Italia launching a new digital key that will allow Sky's high definition TV customers to view free to air digital terrestrial TV channels. Mediaset said that the new commercial initiative by Sky Italia violates Italian and European Union competition rules and eventually damages consumers, limiting their possible choices in terms of TV offerings.
The News Corporation's Dow Jones Announces Agreement With OANDA
Dow Jones & Company, a The News Corporation company, announced it has signed an agreement to provide OANDA customers with Dow Jones's streaming currency news and information in six languages including English, Arabic, Chinese, German, Japanese and Russian.
The News Corporation's Dow Jones & Company To Sell Its Interest In STOXX Ltd.
The News Corporation's Dow Jones & Company announced that it has entered a definitive agreement to sell its one-third interest in STOXX Ltd. and provide certain intellectual-property rights to its joint-venture partners for EUR206.1 million (approximately $309 million). There is an opportunity for Dow Jones to receive up to a further EUR29 million (approximately $44 million) depending on future business performance. After the transaction is complete, Deutsche Boerse AG and SIX Group will each own 50% of STOXX with Deutsche Boerse holding a one-share majority. The transaction, is expected to close by the end of first quarter of 2010.
