Broadcasting & Cable, July 15th, 1996
Executives and affiliates of the Fox Children's Network (FCN) expressed surprise that News Corp., the parent company, is considering spinning off FCN in an initial public offering. FCN affiliates have profit participation agreements with Fox that have provided them with about $15 million over seven years. FCN can be spun off without affiliate approval, but the affiliate oversight committee has traditionally been an important part of business decisions.
Chairman of Fox affiliate board says Chase Carey confirmed that public stock offering of children's unit has been discussed
News Corp. is exp...
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