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News Corp. won't spin Sky yet

Mon, 10/30/2000 - 7:00pm
Karen Kessler-Tanaka

News Corp. has looked at the market and doesn't like what it sees. Originally planning to take part of its global satellite businesses public in November, the company has postponed the sale because of market conditions.

The company was going to place Sky Global Networks on the block. Rupert Murdoch, chair of News Corp., was reportedly interested in leveraging Sky Global to acquire DirecTV.

Despite the delay in the public offering, the possibility of selling a $1 billion stake in the company to Microsoft is still in the works, however. The deal would give the software Goliath a 3.5 percent holding in the company.

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