News Corporation Sells Stake in Phoenix Satellite Television Holdings Limited

HONG KONG--(BUSINESS WIRE)-- News Corporation today announced its wholly-owned subsidiary Star Entertainment Holdings Limited has agreed to sell an approximately 5.28 percent stake in Phoenix Satellite Television Holdings Limited (Phoenix) for approximately USD92 million. Following the sale, Star Entertainment Holdings Limited's total ownership stake in Phoenix will be reduced to approximately 12.16 percent.

James Murdoch, Deputy Chief Operating Officer and Chairman and CEO, International, News Corporation, said, "Mr Liu Changle and Phoenix's accomplishments in the media industry in China are remarkable. We believe the company's strong position in all of the segments in which it operates, combined with the country's robust consumer market, will continue to drive growth. Today's sale is simply a part of our broader global agenda of simplifying our affiliate ownership structures."

About News Corporation

News Corporation (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV) had total assets as of December 31, 2012 of approximately US$63 billion and total annual revenues of approximately US$34 billion. News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America.

News Corporation
Jannie Poon
+852 2621 8619

KEYWORDS:   United States  Asia Pacific  North America  China  New York


The article News Corporation Sells Stake in Phoenix Satellite Television Holdings Limited originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Increase your money and finance knowledge from home

Investing in Real Estate

Learn the basics of investing in real estate.

View Course »

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »