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

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.
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