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Murdoch Will Buy Rest of Fox Shares in $7 Billion Deal

Reported by Marie Therese - January 11, 2005

By ANDREW ROSS SORKIN and GERALDINE FABRIKANT (New York Times, January 10, 2005)

Rupert Murdoch, consolidating his global media empire in the United States, is expected to announce today that he will buy out the shareholders of his Fox properties for about $7 billion, executives involved in the deal said last night. The deal would solidify Mr. Murdoch's control over some of the nation's most valuable media assets like the Fox broadcast network and the DirecTV satellite service and help simplify the complicated structure of his far-flung company, the News Corporation, which includes newspapers, television, film and satellite assets around the globe. It also puts Mr. Murdoch in a better position to leverage his full ownership of the Fox Entertainment Group for future deals. To read the rest click here: New York Times, January 10, 2005.

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