News Corp. creates Euro unit

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News Corp. Chairman Rupert Murdoch announced the formation of News Corp. Europe, to be based in Milan. Mr. Murdoch also announced that News Corp. Europe and the leading French TV network, TF1, are in advanced discussions with Telecom Italia concerning the formation of a joint venture to develop the Italian pay-TV market. Letizia Moratti, former chairman of Italian state TV broadcaster RAI, has been appointed chairman of News Corp. Europe.

Copyright November 1998, Crain Communications Inc.

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