Media

News Corporation Bids for BSkyB


The diversified international media and entertainment company News Corporation (NWS) has placed a massive $US11 billion worth of bid to gain complete control over the British Sky Broadcasting Group. It is to be mentioned that the recent takeover bid is one of the largest deals that News Corporation has come up with in years.

HFA Suffers from Bad Publicity


HFA Holdings (HFA), an Australian hedge-fund manager has said; negative media coverage was the cause for its drop in share price and not its financial position. The share price dropped 98 per cent since its peak last July. The share price of HFA closed at 4.9 cents last week which was well down on its $1.10 April 2006 listing price. It is said that, HFA could be compelled to write down $604 million worth of goodwill and management rights from its balance sheet.

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