New Corp completes $815.3M sale of Sky TV stake

Mon, 04 Mar 2013

March 5 (BusinessDesk) - Rupert Murdoch's News Corp completed the $815.3 million sale of its stake in local pay-TV operator Sky Network Television. The global media empire slated for a demerger along publishing and broadcasting lines later this year sold its 44 percent stake in Sky TV at $4.80 a share in an underwritten placement to institutional investors. Sky TV today said the sale has been completed. A trading halt on the shares put in place for the sale has now been lifted. The stock last changed hands at $5.17 on Friday. Murdoch’s e...

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