SYDNEY - The Australian arm of Rupert Murdoch's News Corp. has made a $2 billion bid to take full control of pay TV company Consolidated Media Holdings.
The News Ltd. takeover offer would give Murdoch's global media empire control of a large slice of Australia's pay television industry. News Ltd. already owns
The move was supported by James Packer, whose Consolidated Press Holdings owns a controlling stake in Consolidated Media.
News has offered $3.50 Australian dollars for each Consolidated Media share, valuing the company at AU$1.97 billion ($2 billion).
The offer remains subject to approval from the Australian Competition and Consumer Commission.
The News Corp. board must also approve the deal.