LONDON: Media mogul Rupert Murdoch’s News Corp is moving to raise fresh cash on the back of its stake in Britain’s BSkyB, in what analysts see as a tactic to help fund a bid for US satellite TV company DirecTV.
A US unit of News Corp said it was raising US$1.35bil through a bond convertible into shares in satellite TV operator BSkyB – a transaction that could theoretically see News Corp sell down its BSkyB stake to help bankroll a takeover of DirecTV parent Hughes Electronics Corp.