News Corp to Sell 44% Stake in New Zealand's SKY Network Television
News Corporation (NASDAQ: NWS) (NASDAQ: NWS.A) announced that its News Limited subsidiary will divest
its 44% stake in SKY Network Television Limited, New Zealand's
pre-eminent pay television broadcasting service.
News Limited has appointed Deutsche Bank to underwrite and, together
with Craigs Investment Partners, to manage, the sales of its SKY shares.
It is expected that the shares will be sold to a broad range of
institutional and retail investors. Following the sales, News Limited
will no longer have any holding in SKY Network Television Limited.
Chase Carey, President and Chief Operating Officer, News Corporation
said: “SKY is a world class subscription television business and has
been an outstanding investment for News Corporation. We and SKY have