Murdoch’s Company Gets a Cash Infusion: Rupert...

Murdoch’s Company Gets a Cash Infusion: Rupert Murdoch’s News Corp., which is trying to restructure $8 billion in debt, has reached agreement with all of its bank lenders for a $600-million cash injection, a Midland Bank spokesman said. “All the banks providing new finance have agreed to the proposal,” the spokesman for the British bank said. “We hope to finalize by the end of the month, or sooner.” Australian-based News Corp has been locked in discussions with banks to reschedule payment of debts and win a fresh injection of cash via a bridge loan. The banks leading the talks are Samuel Montagu, Citicorp and Commonwealth Bank of Australia.