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Stock watch.
Australasian Business Intelligence, July, 2002
Jul 04, 2002 (BRW
ABIX via COMTEX) -- The share price of News Corporation is trading much lower than in the late 1990s. The Australian media group's share price reached a high of $A27.50 in March 2000. The share price traded around $A13.58 on 15 May 2002. The share price recorded a yearly low of $A9.72 on 26 June 2002. A small improvement to $A10.43 was recorded on 1 July 2002. The concern is that the media stock will move to under $A8 per share. The proposal deal to purchase Telepiu from Vivendi Universal was one arrangement to scare investors. Further pressures for News Corporation include Foxtel, weakness in advertising and the financial performance of Gemstar-TV Guide International.
Publication Date: 4 July 2002
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