OTHER NEWS - Oct. 23, 1991
From Times Staff and Wire Reports
News Corp. Makes Private Equity Offering: News Corp. said it sold $175 million worth of exchangeable preference shares in a private place to three unidentified investors. The preference shares, which pay an annual dividend of 8.5%, are exchangeable into about 17.5 million ordinary shares. News Corp. said the proceeds will be used to reduce debt, provide additional funding for British Sky Broadcasting and for working capital.
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