http://mediadecoder.blogs.nytimes.com/2013/03/08/in-filing-news-corp-says-it-will-provide-2-6-billion-to-its-new-publishing-company/?partner=rss&emc=rss
News Corporation’s new publishing company will receive a $2.6 billion infusion of cash and have no debt when it separates from the company’s higher-growth cable channels and Hollywood studio this summer.
In a filing with the Securities and Exchange Commission on Friday, the company confirmed what analysts had expected: Rupert Murdoch will make sure his beloved trove of roughly 175 newspapers will have plenty of capital once they are split off on their own.
The $2.6 billion figure, $1.82 billion of which will come from the parent company, is slightly higher than investors had anticipated, leading to speculation that it might be used to acquire additional newspapers.
News Corporation’s new publishing company will receive a $2.6 billion infusion of cash and have no debt when it separates from the company’s higher-growth cable channels and Hollywood studio this summer.
In a filing with the Securities and Exchange Commission on Friday, the company confirmed what analysts had expected: Rupert Murdoch will make sure his beloved trove of roughly 175 newspapers will have plenty of capital once they are split off on their own.
The $2.6 billion figure, $1.82 billion of which will come from the parent company, is slightly higher than investors had anticipated, leading to speculation that it might be used to acquire additional newspapers.
