News Corp. invests $1B in Healtheon/WebMD

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New York--Global media giant News Corp. announced it is investing $1 billion in Healtheon/WebMD, a portal that connects doctors, health care companies and consumers. In a statement, News Corp. said the pact is meant to accelerate the domestic and international expansion of its b-to-b services. News Corp. will be a 10.8% minority stakeholder in Healtheon/WebMD, Atlanta. Financial terms of the partnership include: $700 million in domestic and international branding support by News Corp.; a $100 million purchase by News Corp. of Healtheon/WebMD stock at $50 a share; a $100 million cash investment in a joint News Corp.-Healtheon/WebMD international venture; and a $62.5 million, five-year licensing agreement for syndication of WebMD daily broadcasts.
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