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News Corp. Satellite Branches to Become One Unit
News Corp.(NWS ADR Quote) said late Tuesday that it would restructure its worldwide satellite units into one entity, named Sky Global Networks, and would sell a stake of that unit to the public by the end of the year.
The new company will trade on the New York Stock Exchange under the symbol "SGN," according to documents filed with the Securities and Exchange Commission. News Corp. hopes to raise as much as $5 billion from the IPO.
SGN will include the company's various stakes in British Sky Broadcasting(BSY Quote), TV Guide(TVGIA Quote) and NDS Group(NNDS Quote), among others. ...
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