CNBC: ValueAct Takes $1 Billion Stake in 21st Century Fox

Monday, 11 Aug 2014 11:33 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Hedge fund ValueAct Capital LLC has taken a $1 billion stake in Rupert Murdoch-controlled film and TV company Twenty-First Century Fox Inc., CNBC reported.

ValueAct built its position when Fox was seeking to buy Time Warner Inc, CNBC's David Faber said.

Fox withdrew its $80 billion bid to buy Time Warner last week after being rebuffed by the owner of CNN, HBO and Warner Bros studios.

Faber said ValueAct Chief Executive Jeffrey Ubben had told him he "loves" Fox's standalone plan.

Fox shares were up 1 percent at $34.74 in early trading on the Nasdaq on Monday.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Bass: World's Central Banks Are Going Their Separate Ways

Wednesday, 22 Oct 2014 20:51 PM

Central banks, which have been easing in unison since the financial crisis began six years ago, are now starting to brea . . .

Stocks Decline Amid Price Data as Oil Tumbles to 2-Year Low

Wednesday, 22 Oct 2014 17:06 PM

U.S. stocks dropped, halting a four-day rally, while the dollar advanced as the cost of living in America unexpectedly r . . .

Bank of America Customers Double-Charged in Apple Pay Snafu

Wednesday, 22 Oct 2014 16:52 PM

About 1,000 Bank of America Corp. debit transactions made using Apple Inc.'s new mobile-payment system were mistakenly d . . .

Most Commented
Top Stories

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved