Australian politics, society & culture

News In $2bn Bid For Packer’s ConsMedia

Wednesday, 20 June 2012 - 12:35am
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General Content Item: Left Column

"Rupert Murdoch’s News Ltd has lodged a $2 billion proposal to acquire James Packer’s Consolidated Media Holdings that would strengthen its hold over the local pay television industry. CMH confirmed in a statement that News has proposed to pay $3.50 a share in cash for the pay TV holdings company, which owns 50 per cent of Fox Sports Australia and 25 per cent of Foxtel."