>>> (NYSE:ZD)
* NEWS CORP (AUS:NCP) CONSIDERS ZIFF-DAVIS BID -REPORT [Reuters, 271 words]
(NYSE:ZD) Quote.Com news item #11327303
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* NEWS CORP (AUS:NCP) CONSIDERS ZIFF-DAVIS BID -REPORT [Reuters, 271 words]
LONDON, Sept 12 (Reuters) - Rupert Murdoch's News Corp Ltd
is considering a $1.5 billion purchase of U.S. technology media
and Internet company Ziff-Davis Inc (NYSE:ZD) (NYSE:ZDZ), the Observer
newspaper said on Sunday.
The newspaper cited sources close to the talks as saying
News Corp executives were completing due diligence this weekend
on Ziff-Davis, which in July said it had retained Morgan Stanley
Dean Witter to explore the possible sale of all or some of its
businesses to maximise shareholder value.
The Ziff-Davis move followed a decision by its majority
shareholder, Japan's Softbank Corp (TOKYO:9984), to focus
exclusively on Internet company investments.
Ziff-Davis produces some of the world's leading technology
magazines, including PCMagazine and PC Week, and runs trade
shows as well as Internet activities. Its Internet businesses
have a separately quoted tracking stock ZDNet (NYSE:ZDZ) which is
83 percent owned by the ZD Group.
The Observer said it was thought the takeover was being
negotiated by Murdoch's son James, who heads News Corp's
Internet business.
It is unlikely that News Corp would wish to keep Ziff-Davis'
trade magazines, and purchase of the rest of the gorup would
further Murdoch's aims to expand in Internet activities.
Murdoch this year joined with Japanese venture capital group
Softbank to form a 50-50 venture in the UK, eVentures, to invest
in Internet opportunities.
uk.equities.news@reuters.com))
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