Menu
Finance

COMPANY NEWS & NOTES: FOX IPO MAY BE LARGEST EVER

          News Corp. filed for the "anticipated spinoff" of the
     Fox Group, part of its U.S. film, TV and sports business,
     with the SEC on Friday, a move "that could help" Chair
     Rupert Murdoch "boost his company's market value," according
     to BLOOMBERG NEWS.  The filing "didn't disclose how much it
     hoped to raise in the stock sale," but analysts have
     estimated it "could reach" $3.5B, which "could make it the
     biggest initial stock offering in U.S. history."  Fox
     "intends to use the IPO proceeds to repay borrowings from
     other" News Corp. affils,  but it didn't specify how much
     (BLOOMBERG NEWS, 8/15).  The SEC filing noted that only
     shares of Class A stock, which have one vote per share, will
     be offered.  All Class B shares, which have 10 votes each,
     will be retained by News Corp. (HOLLYWOOD REPORTER, 8/17).
          AUTHORITY? The Sports Authority's debt ratings were
     changed to "direction uncertain" from "possible upgrade" by
     Moody's Investor Service.  Moody's said that if Venator's
     acquisition of TSA isn't completed, "continued weakness" in
     the chain's operating performance "could lead to a downward
     rating adjustment" (WALL STREET JOURNAL, 8/17).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/1998/08/17/Finance/COMPANY-NEWS-NOTES-FOX-IPO-MAY-BE-LARGEST-EVER.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/1998/08/17/Finance/COMPANY-NEWS-NOTES-FOX-IPO-MAY-BE-LARGEST-EVER.aspx

CLOSE