News America tenders for any and all $500 million of 9.25% debentures

By Jennifer Chiou

New York, Feb. 15 - News America Inc. announced the launch of a cash tender offer for any and all of its $500 million of 9.25% senior debentures due Feb. 1, 2013.

The offer will end at 5 p.m. ET on Feb. 23.

For each $1,000 principal amount, the New York-based subsidiary of News Corp., a media company, said it will determine the payout using the 0.625% Treasury due Jan. 1, 2013 plus a fixed spread of 50 basis points.

News America said it will also pay accrued interest to the Feb. 24 settlement date.

The dealer manager is J.P. Morgan Securities LLC (866 834-4666 or call collect 212 834-3424). D.F. King & Co., Inc. is the information agent (800 549-6746 or call collect 212 269-5550).

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