Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

News Corp. Gets $650 Million Revolving Credit Due in Five Years

Don't Miss Out —
Follow us on:

Oct. 29 (Bloomberg) -- News Corp., the publishing company that owns the Wall Street Journal, obtained a $650 million line of credit that will expire in October 2018.

JPMorgan Chase & Co., Citigroup Inc., and Commonwealth Bank of Australia arranged the financing, New York-based News Corp. said in a regulatory filing. The facility may be increased to as much as $900 million, the company said.

Borrowings under the revolving credit line would be the only debt for News Corp., which became debt-free when Chairman Rupert Murdoch split the publishing arm from his entertainment business last year. Proceeds of the loan will be used for general corporate purposes, according to the company.

News Corp. hasn’t borrowed any funds under the pact, it said in the filing.

In a revolving line of credit, money may be borrowed again once it is repaid.

To contact the reporter on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.