News Corp., Fox Television and New World Sign Definitive Merger AgreementsNEW YORK, Sept. 25 /PRNewswire/ -- New World Communications For the company controlled by Sun Myung Moon and his Unification Church which owns The Washington Times and United Press International, see .
New World Communications Group Incorporated (Nasdaq: NWCG), The News Corporation Limited (NYSE NYSE
See: New York Stock Exchange : NWS, NWSpr; ASX: NCP, NCPDP; LSE: NEWCP) and Fox Television Stations The Fox Television Stations (FTS) are a group of television stations located throughout the United States which are owned-and-operated by the Fox Broadcasting Company. FTS also produces the Fox program COPS. , Inc. announced that they and certain of their respective affiliates have signed definitive agreements with respect to those transactions agreed to by the parties in a Memorandum of Understanding dated as of July 17, 1996. The transactions principally involve the acquisition of New World through a taxable merger with a subsidiary of Fox in which the common stockholders of New World will receive in exchange for each New World common share 1.45 ADR's, each representing four shares of the Preferred Limited Voting Ordinary Shares of News Corp.
The transactions remain subject to approval of the New World stockholders and favorable action on pending applications for approval of the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. .
SOURCE New World Communications Group Incorporated
/CONTACT: New World Media Relations: Michael Diamond, 310-444-8266, or New World Investor Relations: Gary Fishman or David Pasquale at 212-685-6890; or News Corporation Media Relations: Marcia Horowitz of Rubenstein Associates, Inc., 212-843-8014. News Corporation Investor Relations: Nicola Bamford, 212-852-7230/
CO: New World Communications Group Incorporated; Fox Television Stations,
Inc.; The News Corporation Limited ST: New York IN: ENT SU: TNM
DC -- NYW039 -- 0006 09/25/96 08:13 EDT http://www.prnewswire.com