News Corp stake in Nthn Star
NZPA-AAP Sydney Rupert Murdoch’s News Corporation, Ltd, will take a 15 per cent holding in emerging media group Northern Star Holdings, Ltd, the company that only recently purchased a swag of electronic media interests from News for sAust623 million. News Corp has agreed to acquire the direct stake instead of retaining, as previously announced, a 15 per cent stake in Northern Star’s television company. Northern Star said. Northern Star also said it had completed the previously reported acquisition of News Corp’s Channel 10 television stations in Melbourne and Sydney. News Corp will acquire 23M shares, or 10 per cent of its issued capital, at sAust36oc each, the same price which will be paid by other placement subscribers at the end of this month. The other 15M shares or so will be acquired on market Final shareholdings will be Westfield Capital Corp, Ltd, 45 per cent News Corp 15 per cent U.K.-based Associated Newspaper Holdings pic holding 10 per cent with 30 per cent held by the public.
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Press, 8 April 1987, Page 36
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173News Corp stake in Nthn Star Press, 8 April 1987, Page 36
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