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Technology Stocks : Healtheon Corporation (HLTH) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (319)	11/23/1999 5:50:00 PM
From: stock_bull69	Respond to of 861

Top Financial News Wed, 24 Nov 1999, 9:35am EST News Corp. in Talks to Invest Cash, Other Assets in Healtheon/WebMD Corp By Kim Chipman News Corp. in Talks to Invest in Healtheon/WebMD (Update2) (Adds detail on Fox's Internet plans starting in 6th paragraph; closing share prices.) New York, Nov. 23 (Bloomberg) -- News Corp. is in talks to invest cash and other assets in Healtheon/WebMD Corp. for a ``large' minority stake in the Internet health-information company, Chairman and Chief Executive Rupert Murdoch said. Murdoch, who didn't elaborate on how much News Corp. will spend, said an investment would include ``some cash and some advertising.' Last month, the companies said they were in exclusive talks about a ``series of transactions' aimed at developing global Internet and branding services. Earlier this month, people close to the talks said News Corp. planned to invest $1 billion, including cash, a cable network and advertising, in Healtheon/WebMD and an affiliate. News Corp., the sprawling global media company controlled by Murdoch, wants to build its Internet business, a move that some observers say has taken too long. Negotiations are going ``very well,' Murdoch said in New York after the first annual shareholder meeting of Fox Entertainment Group Inc., News Corp.'s U.S. media and entertainment affiliate. News Corp. plans to pay $150 million in cash for 10 percent of Healtheon/WebMD, the people said. It also would invest $150 million for half of Healtheon WebMD International and contribute a health-oriented cable network and promotion time on Fox and other outlets. Officials at Healtheon and WebMD weren't immediately available to comment. Coming Announcements Fox will make several ``significant' announcements about its Internet business in the ``next few months,' Murdoch said without elaborating. News Corp. wants to strengthen its existing Fox Internet sites, which include FoxNews.com and FoxSports.com. Early next year, it will debut a revamped version of its Fox.com site, which will include electronic commerce, Fox TV and movie content as well as original programming, News Corp. President and Co-Chief Operating Officer Peter Chernin said. News Corp. will consider creating a separately traded stock for the site, Murdoch said. Shares of Healtheon/WebMD rose 2 7/16 to 40 in trading of 11.8 million shares, more than eight times the three-month daily average. Sydney-based News Corp.'s American depositary receipts of fell 13/16 to 33 1/16.