Rupert Murdoch’s media group News Corp Ltd is expected to conclude this week a $1bn investment in Healtheon/WebMD, the healthcare portal officially created earlier this month. News Corp will take a 10% stake in the healthcare firm, in return for free advertising on News Corp television networks, some cash, and a small stake in the media group’s Health Network cable television station, which broadcasts to 17.5 million American homes. The investment, first mooted last month, has since been seen by industry watchers as a ‘toe in the water’ exercise for Murdoch and News Corp. The Australian media mogul has hitherto stood shy of making a whole-hearted commitment to internet investments.
