Reply #9: Sometimes the messenger is the story. NewsCorp owned ~10% of WebMD in 2000. [View All]

[Trillo]

In other words, the same corporation that owns Fox News, owns a significant portion of WebMD.


http://findarticles.com/p/articles/mi_m3498/is_1_63/ai_58585946/
"The joining at the hip of News Corp. and Healtheon/WebMD creates an Internet provider of Microsoft proportions. In June 1999 News Corp. listed assets of approximately $36 billion and total annual revenues of approximately $14 billion. News Corp. owns enough mass media to glut airwaves and overwhelm print outlets. It operates in the United States, Canada, the United Kingdom, Australia, Latin America and the Pacific Basin. Its television assets include Fox Broadcasting and such assorted outlets as the Sports Net, Fox Family Channel and Fox News, along with Channel (V) Asia, Sky Latin America, The Health Network and Foxtel.
...
"News Corp. will become a 10.8% minority stakeholder in Healtheon/Web MD. Financial terms include $700 million in branding services ($400 million domestically and $300 million internationally) provided by News Corp. over 10 years; a $100 million purchase of Healtheon/Web MD stock at $50 per share, and a $100 million cash investment by News Corp. in an international joint venture. News Corp. also paid $62.5 million for a five-year licensing agreement for syndication of WebMD daily broadcast content, transferred to Healtheon/WebMD a 50% interest in The Health Network, the health-focused cable network, and received 100% ownership of thehealthnetwork.com.

"The goal, added Peter Chernin, president and COO, is to create the dominant brand in health care information, one that is trusted by consumers, physicians and the health care industry alike. The partnership, he said, will make it possible to create and distribute health information worldwide with cross-promoted programming through media vehicles including broadcast, cable, print, online, physician's office and in-store.