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Media

October 19, 1994|From Times Staff and Wire Reports

News Corp. Expects $1 Billion From BSkyB Offering: Media mogul Rupert Murdoch, speaking at his News Corp.'s annual meeting in Adelaide, Australia, said he valued the satellite firm British Sky Broadcasting at approximately $8 billion. He said he expects the offering to take place before the end of the calendar year and possibly within the next few weeks, depending on market conditions. The offering of the 20% stake of BSkyB would trim News Corp.'s stake in the broadcaster to 40% from 50%, strengthening the company's balance sheet. News Corp. owns media around the world, including the Fox Television network in the United States.

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