News Headline
Liberty Media to acquire $500 million News Corp preferred ADRs
NEW YORK: John Malone’s entertainment group Liberty Media has exercised its right under a March 2003 agreement to buy US $500 million of News Corp preferred limited-voting ordinary American Depositary Receipts (ADRs) at $21.50 apiece.
News Corp released a statement stating that the transaction is expected to close in two weeks. Dow Jones has indicated that the deal gives Liberty another 23.3 million ADRS, each of which represents four preferred limited-voting ordinary shares, or 93 million shares in total.
Analysts feel that by exercising the option now Liberty has made a major saving. As per the agreement signed in March a deadline of 28 September was placed on Liberty to exercise its option. Had it refused News Corp had until 27 March 2005, to make Liberty buy the same number of ADRs at the same price. The condition was that News Corp was by then to have acquired an ownership interest in Hughes Electronics.
The report states that the deal adds more than 1 percentage point to Liberty’s stake in News Corp., giving it close to a 20 per cent economic interest in the company.
News Corp. chairman and CEO Rupert Murdoch controls almost 31 per cent of the company’s voting shares. However due to the large amount of preferred stock on issue, his economic interest is closer to 19 per cent.
By the end of the year News Corp hopes to gain the final regulatory approval for the purchase of a 34 per cent stake in Hughes Electronics, the owner of DirecTV.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
