News Corp. Offers 315p In Cash For Each Wireless Share - Quick Facts

(RTTNews) - The Boards of News Corp. (NWSA) and Wireless announced that agreement has been reached on the terms of a recommended cash offer to be made by News Corp (UK & Ireland), an indirect wholly-owned subsidiary of News Corp, for the entire issued and to be issued share capital of Wireless. The offer values the entire existing issued and to be issued share capital of Wireless at approximately 220.3 million pounds.

Wireless Shareholders will receive, for each Wireless Share held, 315 pence in cash. In addition, Wireless shareholders named on the register on 20 May 2016 will receive the special dividend of 6.15 pence per Wireless share and the 2015 final dividend of 7.60 pence per Wireless Share, both of which are expected to be paid on 15 July 2016.

Wireless is a media group operating in the UK and Ireland primarily focused on radio broadcasting. The business has valuable media brands that include talkSPORT, the leading sports radio network in the UK, and a wider portfolio of media assets with a significant presence and audience engagement, both digitally and internationally. talkSPORT has radio and digital audio broadcasting rights for the Premier League, the FA Cup and the EFL Cup. It also has the global live audio rights to the Premier League in multiple languages (outside the EEA) to 2019.

The Wireless Directors unanimously recommended that Wireless shareholders accept the offer.