buyers still here, page-2

Lots of speculation around Liberty taking a big voting chunk. Might throw Lachlan's secession into doubt...

0912 [Dow Jones] STOCK CALL: Goldman Sachs JBWere keeps Buy rating on News Corp. (NCP), concluding Liberty's increased net investment is positive signal on NCP medium-term prospects. While speculation about Liberty's long-term intentions will interest "conspiracy theorists," broker sees it as "largely irrelevant" to investment case for NCP on 2-3 year view. While Liberty move has mildly negative index weighting implications, both S&P and MSCI expected to up weight NCP overall to fully reflect issuance of preference shares for Hughes deal last month. Buy rating kept on basis of improved news flow, strong earnings momentum and reasonable valuations leading to ongoing outperformance.