News Corp. (NWS) looks to strengthen its Australian pay TV holdings after agreeing to acquire...

|About: News Corporation (NWS)|By:, SA News Editor

News Corp. (NWS) looks to strengthen its Australian pay TV holdings after agreeing to acquire Consolidated Media for A$1.94B ($2B). However, the deal is far from a shoo-in, as Kerry Stokes' Seven Group, which is considering a counter offer, owns a 25.3% stake in Consolidated. News Corp. needs 75% approval at a meeting next month to win through.