Deals
News Corp. Agrees to Buy Consolidated for A$1.9 Billion
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News Corp. agreed to buy Consolidated Media Holdings Ltd. for A$1.94 billion ($2 billion) to boost its stake in Australian pay television as billionaire Kerry Stokes weighs making a counter-offer.
News Corp., the media company controlled by Rupert Murdoch, agreed to pay A$3.45 a share and investors will also get a six Australian cents a share dividend from the target, Sydney-based Consolidated said in a filing today. Stokes’s Seven Group Holdings Ltd., with a 25.3 percent stake, has asked for regulatory clearance to make its own bid.