NEW YORK--(BUSINESS WIRE)--March 21, 2005--News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV) announced today that it has completed its previously announced acquisition of Fox Entertainment Group, Inc.'s Class A common stock (NYSE:FOX) that News Corporation did not already own.
In a short-form merger of Fox Entertainment Group, Inc. with and into News Corporation's wholly owned subsidiary, Fox Acquisition Corp, that was effected earlier today, each share of Fox Class A common stock, other than those owned by News Corporation or its subsidiaries, was converted into 2.04 shares of News Corporation Class A common stock, subject to the rights of stockholders to seek appraisal under Delaware law.
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