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MURDOCH COMPANIES A HIT WITH INVESTORS.



Byline: Dave McNary Daily News Staff Writer

Rupert Murdoch had to be smiling Monday.

Minutes before the Los Angeles Dodgers "Dodgers" and "Brooklyn Dodgers" redirect here. For the American football team, see Brooklyn Dodgers (football). For the Eastern Basketball Association team, see Brooklyn Dodgers (basketball).  took the field to start the season, Wall Street closed a session that saw a major boost to stocks of its parent companies Fox Entertainment Group and News Corp.

Earlier in the day, analyst Richard Bilotti of Morgan Stanley To comply with Wikipedia's , the introduction of this article needs a complete rewrite.  Dean Witter Dean Witter may refer to:
  • Dean G. Witter (businessman, Co-founder of Dean Witter & Company)
  • Dean Witter Reynolds (brokerage firm, now known as Morgan Stanley)
 reiterated his ``strong buy'' rating on the stock of Murdoch's News Corp. - which owns 81 percent of Fox Entertainment - pushing shares up $3.3125 to $33.875, for a gain of 11 percent.

The price was the highest for News Corp. in recent years, surpassing the 52-week high of $33.50 last July. Bilotti said shares have been undervalued Undervalued

A stock or other security that is trading below its true value.

Notes:
The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating.
 compared with its entertainment industry rivals in recent years.

Murdoch's strategies of aggressive acquisition and heavy debt load have kept the price of News Corp. shares depressed in recent years as the stocks of Time Warner Inc. and Viacom Inc. have soared. The News Corp. chief decided last year to split the company in two, creating Fox Entertainment Group through a $2.8 billion offering that left 18.6 percent of the new company in public hands.

Shares of Fox Entertainment rose $1.3125 to $28.375 on Monday. Fox Entertainment, which went public in November at $22.50 a share, owns the Dodgers, 20th Century Fox, the Fox Network and investments in cable-television channels.

After the market closed, the Dodgers beat the Arizona Diamondbacks This article is about the baseball team. For other uses, see Diamondback.
The Arizona Diamondbacks (also referred to as the D-backs) are a Major League Baseball team based in Phoenix, Arizona. They play in the West Division of the National League.
 8-6 in the 11th inning in·ning  
n.
1.
a. Baseball One of nine divisions or periods of a regulation game, in which each team has a turn at bat as limited by three outs.

b. innings (used with a sing.
.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Article Type:Statistical Data Included
Geographic Code:1USA
Date:Apr 6, 1999
Words:250
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