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Friday, May 2, 2014

News Corp ties knot with romance novel publisher, (NASDAQ: NWSA)

For Harlequin Enterprises Ltd, the romance novel publisher that News Corp agreed to purchase for $415 million, the title of one of its latest offerings, "My Fair Billionaire," could well refer to Rupert Murdoch.Murdoch's News Corp said on Friday it would purchase Harlequin from Torstar Corp, owner of the Toronto Star, Canada's largest daily newspaper by circulation.With backing of the billionaire's global empire, the deal will give a more secure financial footing to Harlequin - known for churning out more than a thousand "bodice ripper" books every year, with titles like "A Game of Seduction" and "The Heartbreaker Prince."The C$455 million purchase is News Corp's largest since its assets were split off last year from its cable, TV and movie studio properties, now known as 21st Century Fox Inc

News Corporation is a diversified media and information services company. Shares of NWSA remained unchanged at $17.30. In the past year, the shares have traded as low as $14.39 and as high as $18.53. On average, 2957550 shares of NWSA exchange hands on a given day and today's volume is recorded at 1447940.



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