Advertisement
YOU ARE HERE: LAT HomeCollections

BRIEFLY

Other News

September 13, 1993|From Times Staff and Wire Reports

Murdoch to Sell Media Stake to Malaysian Tycoon: Media baron Rupert Murdoch plans to sell almost 35% of Hong Kong's South China Morning Post group to Robert Kuok, a Malaysian billionaire who has close relations with the Colony's future rulers in China, the daily said early today. Ending a week of wild rumors, the South China Morning Post said Kuok had agreed to pay Murdoch's News Corp. $349 million for the 34.9% stake. After the deal is completed, Murdoch will still have 15.1% of the company, forming an alliance with Kuok which could prove key to his satellite television ambitions in the booming China market.

Advertisement
Los Angeles Times Articles
|
|
|