- Reuters•last year
News Corp said it will increase its stake in Australian media company APN News & Media Ltd from an undisclosed level to 14.99 percent, the maximum shareholding a foreign firm can hold in Australia without making a formal takeover offer. Rupert Murdoch's New York-listed media conglomerate said in a statement to the Australian Securities Exchange on Thursday its Australian unit "will build its investment in APN to a 14.99 percent stake subject to regulatory approval". A source familiar with the transaction told Reuters that News Corp has previously held a 4.9 percent stake in the owner of some of Australia's top-rating radio stations and publisher of some 50 regional newspapers in Australia and New Zealand, including the New Zealand Herald.
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