Publishing industry
The Australian government has agreed to limited assistance for a proposed second international film studio, to be built by Rupert Murdoch's Twentieth Century Fox in Sydney. The studio, which will cost $20 million to build, will include three sophisticated sound stages and modern pre and post-production facilities. It
Publishing industry
Rupert Murdoch's determination to maintain his family's control over News Corporation has led to another innovative capital structure proposal. The announced plan to issue participating preference shares, or participating pref shares, is the third attempt to create a securities structure that will preserve family control without
Publishing industry
News Corporation, led by Rupert Murdoch, is poised to tap into the financial flexibility needed to pursue strategic alliances with telecommunications and media companies. The company will issue limited voting preference shares, offering shareholders a more attractive dividend return and paving the way for the potential raising of billions of
Banking industry
A significant debt refinancing by British Sky Broadcasting (BSkyB), a 50% owned subsidiary of News Corp, has resulted in a substantial cash payout for its major shareholders. The BSkyB refinancing, arranged by Toronto-Dominion Bank and Citibank, has reduced the company's shareholder debt to $1.1 billion, including accrued
Banking industry
The Sydney Futures Exchange (SFE) is preparing to launch a market in Australian equity futures, with a view to expanding its operations into the Asian and even American equity futures contracts. The exchange's chief executive, Mr. Les Hosking, has expressed interest in building on the success of the
Book publishing
The National Book Critics Circle awards have been given to exceptional literary works, recognizing the efforts of talented authors and their contributions to the literary world. "A Lesson Before Dying," a novel by Ernest J. Gaines, took home the award for fiction, while "The Land Where the
Book publishing
The National Book Critics Circle has announced its 1993 awards, recognizing the most distinguished fiction, non-fiction, biography, poetry, and criticism of the year. A Lesson Before Dying, Ernest Gaines' novel about the lives of two African American men in Louisiana, won the award for most distinguished fiction. Other notable
Publishing industry
The varied talents of Robin Williams, Michael Jordan, and Margaret Thatcher have contributed to News Corporation's interim earnings rising 28% to $625 million. This result exceeded expectations, leading analysts to revise their forecasts for the full year to around $1.25 billion. The boost came from improved performances
Publishing industry
As the Australian sharemarket enters a new year, brokers are forecasting a promising outlook, with many confident that the market will see significant gains. According to a survey of 24 Melbourne private client brokers, the top four picks for 1994 include Boral, TNT, News Corp, and Laser Holdings. These stocks
