News Corp., Permira in NDS Deal

NEW YORK/LONDON, June 30:
News Corporation is privatizing its majority-owned public subsidiary NDS in a
deal with investment firm Permira.

Following the $3.6-billion
transaction, Permira will own 51 percent of NDS, with 49 percent held by News
Corp., which currently owns approximately 72 percent of the equity and 96
percent of the voting power of NDS. In a joint statement, News Corp. and
Permira said the deal presented an “attractive alternative” for shareholders. “It
provides an excellent opportunity for public shareholders to exit an illiquid
investment at an attractive price in a very challenged financing and economic
market environment.”

NDS says it has appointed
an independent committee of directors to assess the News Corp. and Permira
proposal.

—By Mansha Daswani