News Corp said it wasn’t going to ‘risk negative credit rating’ f...
News Corp said it wasn’t going to “risk negative credit rating” following negative forecast from Standard & Poor’s (CD Dec 27 p2) and would “proceed cautiously” in its negotiations for Saban Entertainment’s 49.5% stake in Fox Family Worldwide. S&P…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
report on News Corp. came after Fox Family Chmn. Haim Saban exercised his option to sell his stake back to News Corp. Analysts valued stock at $1.2-$1.7 billion, while Saban estimated worth at $2 billion. Buying at that price, News Corp. could pick up bad credit rating, analysts said, which would undermine its effort to purchase DirecTV from Hughes Electronics.