MEDIA & ENTERTAINMENT

News Corp. Seeks New Equity, Debt Offering: The Australian-based media conglomerate controlled by Rupert Murdoch, which is the parent company of Fox studios, said it was seeking Securities and Exchange Commission approval to raise $1 billion in new senior debt securities and issue 40 million new shares in equity. The company said proceeds will be used to reduce a “majority” of its $2.5-billion debt repayment due in February, 1994. Over the past 18 months, News Corp. has raised $1.8 billion from asset sales and public and private debt and equity offerings as part of its recapitalization program. The new equity offering will reduce the Murdoch family stake in News Corp. to about 35% from about 39%.