Mark Holtz
04-26-03, 10:03 AM
From Yahoo/Reuters (http://story.news.yahoo.com/news?tmpl=story&cid=599&ncid=802&e=1&u=/nm/20030425/media_nm/media_fox_directv_dc):
Fox Shareholder Sues Over DirecTV Deal
A shareholder in Fox Entertainment Group Inc. has filed a lawsuit against the company and its executives, alleging Fox is being misused as part of its parent News Corp, Ltd.'s acquisition of satellite broadcaster DirecTV.
In a suit filed Friday in federal court in New York, shareholder Norman Levin claimed that News Corp., which owns most of and controls Fox, is breaching Fox's duties to its shareholders by structuring the DirecTV deal so as to add $4.5 billion of debt to Fox's balance sheet.
The complex cash-and-stock deal, announced on April 9, is expected to pass muster with anti-trust regulators.
Full Story Here (http://story.news.yahoo.com/news?tmpl=story&cid=599&ncid=802&e=1&u=/nm/20030425/media_nm/media_fox_directv_dc)
Fox Shareholder Sues Over DirecTV Deal
A shareholder in Fox Entertainment Group Inc. has filed a lawsuit against the company and its executives, alleging Fox is being misused as part of its parent News Corp, Ltd.'s acquisition of satellite broadcaster DirecTV.
In a suit filed Friday in federal court in New York, shareholder Norman Levin claimed that News Corp., which owns most of and controls Fox, is breaching Fox's duties to its shareholders by structuring the DirecTV deal so as to add $4.5 billion of debt to Fox's balance sheet.
The complex cash-and-stock deal, announced on April 9, is expected to pass muster with anti-trust regulators.
Full Story Here (http://story.news.yahoo.com/news?tmpl=story&cid=599&ncid=802&e=1&u=/nm/20030425/media_nm/media_fox_directv_dc)