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News Corp. Forms New Publishing Group

September 24, 1997|Bloomberg News

News Corp. said it has formed News America Publishing Group for its U.S. book and magazine units, which include HarperCollins Publishers, TV Guide and its electronic publishing units. Anthea Disney, HarperCollins president and chief executive, will run the group. The move is the second step of a reorganization of the Australia-based company that involved moving its marketing business into a separate division. It also comes amid published reports in Germany that German media company Bertelsmann is negotiating to buy HarperCollins, whose sales are lagging. But a News Corp. spokesman denied the reports. News Corp.'s American depositary receipts closed up 25 cents at $19.75 on the New York Stock Exchange.

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