News Corp (NYSE:NWS) or Murdoch vs. Gates Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : News Corp (NYSE:NWS) or Murdoch vs. Gates

NWS 29.92

+0.4%

Dec 30 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: esecurities(tm) who wrote ()	10/5/1998 11:59:00 AM
From: NewsTrader	Read Replies (1) of 67

(NewsTraders) -- Fox Entertainment today registered 85 million of common stock for its planned initial public offering, according to an amended S-1 filing at the SEC Monday. In an earlier filing on Aug. 14, Fox registered $100 million of Class A shares, but did not specify how many shares would be offered. Today's filing didn't provide a price range estimate for the shares, so it is unclear if the IPO has been increased or reduced. Following the IPO, the company will have two classes of authorized common stock: Class A and Class B. News Corp. (NWS) owns all of Fox's common stock and will continue to own all Class B shares, or 98.5% of the voting power, following the IPO. Therefore, News Corp. will control the company and its direction. In fiscal 1998, the company generated $7 billion in combined revenues and $900 million in EBITDA. The two classes of common stock are virtually identical, except Class A shares have one vote, while Class B shares will have ten votes. Fox will use the proceeds to repay debt to a subsidiary of News Corp. (NWS).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next