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Technology Stocks : ZD Inc., Ziff-Davis (ZD) -- Ignore unavailable to you. Want to Upgrade?

To: Gabor who wrote (838)	9/12/1999 10:14:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 855

Murdoch may purchase ZD for $1.5 billion. Given that there were 103,285,334 shares outstanding as of June 30, 1999, there does not appear to be much of a premium in the deal, if it actually materializes. news.cnet.com News Corporation reportedly considering bid for Ziff-Davis By Reuters Special to CNET News.com September 12, 1999, 11:30 a.m. PT LONDON--Rupert Murdoch's News Corporation is considering a $1.5 billion purchase of U.S. technology media and Internet company Ziff-Davis, according to a published report. The Observer newspaper reported today that sources close to the talks say News Corporation executives are completing due diligence this weekend on Ziff-Davis, which said in July it retained Morgan Stanley Dean Witter to explore the possible sale of all or some of its businesses to maximize shareholder value. The Ziff-Davis move followed a decision by its majority shareholder, Japan's Softbank, to focus exclusively on Internet investments. Ziff-Davis produces some of the world's leading technology magazines, including PC Magazine and PC Week, and runs trade shows as well as Internet activities. Its Internet businesses have a separately quoted tracking stock, ZDNet, that is 83 percent owned by the ZD Group. The Observer said it is thought the takeover is being negotiated by Murdoch's son James, who heads News Corporation's Internet business. It is unlikely that News Corporation would wish to keep Ziff-Davis' trade magazines, and purchase of the rest of the group 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 United Kingdom, eVentures, to invest in Internet opportunities.