Las Vegas Sun

December 3, 2009

Currently: 41° | Complete forecast | Log in

Company adopts plan to thwart hostile bid

Monday, Nov. 8, 2004 | 9:31 a.m.

Rupert Murdoch's News Corp., the world's fifth-largest media company, adopted a plan to thwart any potential hostile takeover by John Malone's Liberty Media Corp.

News Corp. said it will offer half-price stock to shareholders should Liberty double its voting stake in the company to 17 percent. Liberty said last week it may boost its holding to that level by buying $1.5 billion in News Corp. voting stock.

News Corp. put the so-called poison pill in place after Murdoch last week said he wasn't concerned about Malone gaining a larger stake in the media company.

archive

  • Most Read
  • Discussed
  • Most E-mailed

Calendar »

  • 3 Thu
  • 4 Fri
  • 5 Sat
  • 6 Sun
  • 7 Mon