Media Industry
Industry: Email Alert RSS FeedNews Corp., MCI make $2 billion partnership.
Broadcasting & Cable, May, 1995 by McConnell, Chris
Deal will give phone company 13.5% interest in media firm
News Corp. has a new media war chest. With an infusion of as much as $2 billion on the way from last week's deal with MCI, the Australian media giant says it now will consider a range of potential investments. Although the company says it has no specific plans yet for spending the money, options include TV stations, online ventures and a new Latin America satellite-TV project.
"It gives us financial strength to accelerate what we're doing," News Corp. Chairman/CEO Rupert Murdoch says of the MCI deal.
Announced last Wednesday by Murdoch and MCI Chairman/CEO Bert Roberts, the deal calls for MCI initially to invest $1 billion in News Corp., with another $1 billion to follow later. MCI's...
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