Printer Friendly

News Corp., Fox Television and New World Sign Definitive Merger Agreements

NEW YORK, Sept. 25 /PRNewswire/ -- New World Communications Group Incorporated (Nasdaq: NWCG), The News Corporation Limited (NYSE: NWS, NWSpr; ASX: NCP, NCPDP; LSE: NEWCP) and Fox Television Stations, 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.

SOURCE New World Communications Group Incorporated
 -0- 9/25/96

/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
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 25, 1996
Previous Article:Tyco Toys, Inc. To Distribute Empire of Carolina's Products Internationally
Next Article:Schering-Plough Announces $500 Million Share Buyback

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters