News Corp. makes buyback offer

Szalai, Georg
June 2005
Hollywood Reporter -- International Edition;6/14/2005, Vol. 389 Issue 29, p4
The article reports that Rupert Murdoch's News Corp. Ltd. on Monday became the latest entertainment conglomerate to launch a major initiative to return value to shareholders, unveiling a program to buy back as much as $3 billion in voting and nonvoting stock during the next two years amid a falling share price so far this year. Wall Street, which has been skeptical that Murdoch would shell out money to investors rather than focus on investing in future growth, seemed to cheer the news, sending company shares slightly higher.


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