FOX ENTERTAINMENT GROUP INC
8-K, 1999-05-24
MOTION PICTURE & VIDEO TAPE PRODUCTION
Previous: CHEVY CHASE AUTO RECEIVABLES TRUST 1998-2, 8-K, 1999-05-24
Next: WYNSTONE PARTNERS LP, PRES14A, 1999-05-24



<PAGE>

- ------------------------------------------------------------------------------


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                    the Securities and Exchange Act of 1934


               Date of Report (Date of Earliest Event Reported):
                                  May 20, 1999



                         FOX ENTERTAINMENT GROUP, INC.
            -------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


    Delaware                        1-14595                      95-457754
- ------------------               ------------                    -------------
(State or other                  (Commission File               (IRS Employer
 jurisdiction of                  Number)                        Identification
 incorporation)                                                  No.)


                          1211 Avenue of the Americas
                           New York, New York 10036
                 --------------------------------------------
                   (Address of principal executive offices)

                    Registrant's Telephone Number, including
                           area code:  (212) 852-7111



                 --------------------------------------------
                 (Former Address, if changed since last report)
<PAGE>

Item 5.   Other Events.
          -------------

          Fox Entertainment Group, Inc. (the "Company") announced on May 20,
1999 the election to its Board of Directors of Mr. Chirstos M. Cotsakos and Dr.
Laura D'Andrea Tyson.



                                       2
<PAGE>

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

May 24, 1999.


                         FOX ENTERTAINMENT GROUP, INC.


                         By:   /s/ Lawrence A. Jacobs
                            --------------------------------------------------
                              Name:  Lawrence A. Jacobs
                              Title: Secretary

                                       3
<PAGE>

                               INDEX TO EXHIBITS


     Exhibit   Description
     -------   -----------

     (99)      Text of press release issued by the Company, dated May 20, 1999.

<PAGE>
                                                                      EXHIBIT 99
NEWS RELEASE

[LOGO] FOX ENTERTAINMENT GROUP

FOR IMMEDIATE RELEASE
- ---------------------
Contact:
Jim Platt, 212-852-7083


                            Fox Elects Laura Tyson,
                          Christos Cotsakos To Board
                              -------------------

  Former Clinton economic chief, E*TRADE chairman and CEO are first outside
                                   directors
                              -------------------


New York, NY (May 20, 1999) -- Fox Entertainment Group, Inc. (NYSE:FOX) today
announced the election to its Board of Directors of Mr. Christos M. Cotsakos,
the Chairman and Chief Executive Officer of E*TRADE, and Dr. Laura D'Andrea
Tyson, the Dean of the Haas School of Business and former National Economic
Adviser to President Clinton.

        In announcing their election, Fox President and Chief Operating Officer
Peter Chernin said: "We're delighted to add the wise counsel of two people so
prominent in their respective fields. With the addition of Mr. Cotsakos and Dr.
Tyson, we gain enormous expertise in new media, e-commerce, marketing and
economics. Dr. Tyson comes to us with an extraordinary academic background in
business and technology, as well as years of experience in national and
international economics at the highest levels of government. We look forward to
relying on her insights and experience as we push ahead with our ambitious
agenda."

        Mr. Chernin continued: "Mr. Cotsakos has been a pioneer in the field of
online trading and financial services, building E*TRADE into a true Internet
success story. His expertise will neatly complement the Fox strategy of
identifying and exploiting opportunities particularly in the new media world."

        Dr. Tyson, 51, was appointed Dean of the Haas School of Business at the
University of California at Berkeley last June. Previously, she had been
National Economic Adviser to President Clinton from February, 1996, to December,
1996. In 1993, Dr. Tyson was the first woman to be appointed chair of the White
House Council of Economic Advisers. Prior to joining the Clinton Administration,
Dr. Tyson was Professor of Economics at the University of California at Berkeley
and was widely considered one of the nation's leading economists applying
economic theory to the analysis and solution of real-world policy problems.

        Mr. Cotsakos, 50, joined E*TRADE as President and CEO in 1996 and became
the group's Chairman in January, 1999. Under his leadership, E*TRADE has become
a dominant force in the rapidly expanding industry of online trading and
financial services.


                                   - MORE -

- --------------------------------------------------------------------------------
     1211 AVENUE OF THE AMERICAS . NEW YORK, NEW YORK 10036 . newscorp.com
<PAGE>

NEWS RELEASE

[GRAPHIC] FOX ENTERTAINMENT GROUP


E*TRADE currently has a market value exceeding $13 billion. Before joining
E*TRADE, Mr. Cotsakos was President and Co-Chief Executive Officer of AC
Nielsen, the world's largest market researcher and the leading monitor of
television audiences in the United States. Previously, he spent 19 years in
senior management positions at Federal Express.

        The election of Mr. Cotsakos and Dr. Tyson increases the number of Fox
board members to seven. The new members join Mr. Rupert Murdoch, Chairman and
Chief Executive Officer; Mr. Peter Chernin, President and Chief Operating
Officer; Mr. Chase Carey, Co Chief Operating Officer; Mr. David DeVoe, Chief
Financial Officer; and Mr. Arthur Siskind, Senior Executive Vice-President and
Group General Counsel.

        Fox Entertainment Group, Inc. (NYSE:FOX) is principally engaged in the
development, production and worldwide distribution of feature films and
television programs, television broadcasting and cable network programming with
total assets as of December 31, 1998 of approximately US$14.1 billion and total
annual revenues of approximately US$7 billion. The Company's studios,
production facilities and film and television library provide high-quality,
creative content, and the Company's broadcasting and cable networks provide
extensive distribution platforms for the Company's programs.

###







- --------------------------------------------------------------------------------
     1211 AVENUE OF THE AMERICAS . NEW YORK, NEW YORK 10036 . newscorp.com


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission