WEBMD GETS HEALTHIER WITH NEWS CORP. INVESTMENT

Posted Wednesday, December 8, 1999 12:00 am

By: Murdoch's Group Invests $1 Billion

News Corp. announced yesterday it will invest about $1 billion dollars in Healtheon/WebMD, an Atlanta-based Internet healthcare information company. The investment will give Rupert Murdoch's media empire a 10.8% stake in Healtheon.

The deal consists of $700 million in branding services on News Corp. properties, $100 million worth of Healtheon/WebMD stock purchased by News Corp., and $100 million in cash for a joint venture between the companies.

Chairman and CEO Murdoch said the deal will help News Corp. achieve its goal of operating a business in the healthcare industry.
Healtheon connects physicians and consumers with the healthcare industry. The company was formed last month from the merger of Healtheon Corp., WedMD Inc., MEDE America, and Medcast. The company's Web site is located at http://www.webmd.com.

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Staff reports

(c) Copyright 1999, Editor & Publisher

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WEBMD GETS HEALTHIER WITH NEWS CORP. INVESTMENT

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