News Corporations Strategic Debt Restructuring completed in 1990 lead to the strong rally in the share price. The restructuring pulled off by Rupert Murdoch was amazing as News Corporation faced substantial debt obligations exceeding $8.2 billion to 146 banks. Rupert Murdoch completed the well-planned restructuring, including the sale of non voting convertible preference shares. This move alleviated immediate financial pressures and restore investor confidence.
At that time Cruden owned 54% of News Corporation and Fidelity / Capital circa 5% each.
MSB Price at posting:
$1.74 Sentiment: Buy Disclosure: Held
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