UPDATE Murdoch's News Ltd to sell Sky TV stake for $815.3M in discounted placement

Sun, 03 Mar 2013

By Paul McBeth March 4 (BusinessDesk) - Rupert Murdoch's News Ltd is quitting its stake in pay-TV operator Sky Network Television for $815.3 million through an underwritten placement to institutional investors at a 7.2 percent discount. Sky TV's shares were halted after News said it will sell its 44 percent stake in the New Zealand firm in a placement underwritten and managed by Deutsche Bank and Craigs Investment Partners, according to a statement to the stock exchange. The $4.80 price was later published in a substantial shareholder notice...

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