News Corp.. Report Damps Market
March 29, 2011
News Corp. shares slid 20 Australian cents to 6.66 Australian after a report in the Vast Press that the company is planning a US$2.40 billion takeover bid for New World Communications Group Inc.. Jami Douglas, a broker at Hartley Poynton Ltd., said news of the possible takeover spread through the market quickly, driving down News Corp. shares from an earlier high of A$6.93. The market was otherwise subdued, with investors seen nervous still about recent volatility in the U.S. market. The All Ordinaries index of share prices fell 4.5 to 2096.1. The media shares subindex fell 2.0%.
VastPress 2011 Vastopolis
