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News Corp to raise $1b as it looks at potential buying spree

Rupert Murdoch’s News Corporation will raise nearly $1 billion in debt from the private market as it looks at a potential buying spree to boost the company’s revenue.

The US-based media business, which owns The Australian, The Wall Street Journal and The Times, told the New York stock exchange on Thursday morning (Australian time) it would offer $US750 million ($985 million) in senior notes which it intends to use for general corporate purposes such as acquisitions and day-to-day operations.

News Corp, led by global chief Robert Thomson, has announced two key acquisitions in recent weeks.

Senior notes are a type of debt that is prioritised over unsecured debt if a company goes into liquidation. It is unclear which assets News Corp may…

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