You will be redirected back to your article in seconds

News Corp. closes Heritage Media buy

NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services.

News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will be reduced by News Corp.’s agreement to sell Heritage’s TV stations for $630 million to Sinclair Broadcast Group.

News Corp. stock rose 25¢, to $17.75, while News Corp. preferred stock rose 56¢, to close at $14.68.

More Biz

  • Richard Branson Jason Felts

    Richard Branson Mulls Succession Among Plans for Virgin Brand

    NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services. News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will […]

  • Saudi Arabia Journalist Khashaggi Death Protest

    Hollywood Forced to Reevaluate Relationship With Saudi Arabia

    NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services. News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will […]

  • Tim Pithouse Joins the Orchard to

    Tim Pithouse Joins the Orchard to Lead Artist & Label Services

    NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services. News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will […]

  • Paul Allen, Jim LentzUCLA Institute of

    Paul Allen, Co-Founder of Microsoft, Dies at 65

    NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services. News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will […]

  • HBO logo

    HBO Names Jessica Holscott Chief Financial Officer

    NEW YORK — News Corp. on Wednesday completed its $1.3 billion acquisition of Heritage Media Corp., giving the media conglomerate a greater presence in marketing services. News Corp. issued 53.2 million preferred shares worth about $780 million to pay for Heritage and will assume debt of $600 million, although the cost of the deal will […]

More From Our Brands

Access exclusive content