News Corp.: Fox Share Offer Done3/21/2005 8:11 AM Eastern
News Corp. said Monday that it successfully completed an offer for the outstanding shares in its Fox Entertainment Group Inc. unit, AP reported.
Fox Entertainment includes the Fox broadcasting network, its television stations, the 20th Century Fox movie studio, cable networks (such as FX, Speed Channel and Fox News Channel) and a 34% equity interest in DirecTV Group Inc.
The media giant said a total of 414,889,385 shares were tendered, boosting its stake in the unit to 98.8% from 82%, according to AP.
Under the offer -- which expired at midnight Friday and which was originally announced Jan. 10 -- News Corp. offered 2.04 of its class-A shares for every Fox share.