Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: LastShadow who wrote (1465)	7/2/1997 9:03:00 AM
From: Stephen D. French	of 120523

News Corp. May Increase Stake In Britain's BSkyB: Report AP-Dow Jones News Service LONDON -- Rupert Murdoch is considering a buy-back of shares in British Sky Broadcasting Group PLC that would give his News Corp. a majority stake in the satellite broadcaster, the Observer newspaper reported Sunday. 'Sources close to the company' said Murdoch may use a sharp fall in BSkyB shares in the last two weeks to increase News Corp's stake, currently 40%. Murdoch is understood to want closer control of BSkyB, although buying back all outstanding shares would cost 4 billion GBP - more than News Corp. could afford. The fall in BSkyB shares was prompted by the resignations of chief executive Sam Chisholm and managing director David Chance. A key target would be second-largest single share-holder, French company Pathe, which holds 13% of BSkyB in its own right and 4% through a subsidiary.

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