News Corp said it wasn’t going to ‘risk negative credit rating’ f...
News Corp said it wasn’t going to “risk negative credit rating” following negative forecast from Standard & Poor’s (CD Dec 27 p2) and would “proceed cautiously” in its negotiations for Saban Entertainment’s 49.5% stake in Fox Family Worldwide. S&P…
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report on News Corp. came after Fox Family Chmn. Haim Saban exercised his option to sell his stake back to News Corp. Analysts valued stock at $1.2-$1.7 billion, while Saban estimated worth at $2 billion. Buying at that price, News Corp. could pick up bad credit rating, analysts said, which would undermine its effort to purchase DirecTV from Hughes Electronics.