The print based publishing company spin off of News Corp starts off operations with a clean slate. According to regulatory filing made by the media giant, the company would have no debt and have an available fund of US$2.6 billion in cash.
The fund allows the company to purchase assets as needed and as it chooses. According to analysts, the company is estimated to have an enterprise value of US$13 billion with the cash. Amongst its existing assets are The Wall Street Journal, the Times of London, publisher Harper Collins and ownership shares in other media outlets such as Australia's Foxtel.
When sought for comment, News Corp declined to provide any. What has been announced though was its intent, as of last June, to 'split its publishing and entertainment assets into two publicly traded companies.' The publishing unit would retain its original name while the entertainment group would be named Fox Group.
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