Benzinga | Apr 7, 2021 09:39AM EDT

News Corp Seeks To Raise $750M Via Private Debt

* News Corp (NASDAQ: NWS) (NASDAQ: NWSA) is offering $750 million Senior Notes due 2029 in a private secondary offering.

* It intends to use the proceeds for general corporate purposes, including acquisitions and working capital.

* News Corp had recently acquired Investor's Business Daily from O'Neil Capital Management for $275 million.

* It held cash and cash equivalents of $1.6 billion as of December 31, 2020.

* NWSA stock has gained 198% in the last year.

* Price action: NWSA shares are trading higher by 0.64% at $26.73 on the last check Wednesday.