By Jill Goldsmith UPDATED with sale closed Fox Corp. said it completed te sale of $1.2 billion worth of notes and will use net proceeds for general corporate purposes.
Companies are raising cash at a rapid pace as a nest egg against the harsh economic impact and unknown duration of the coronvirus.
Fox announced the sale of two trranches of $600 million worth of senior notes on March 31. Earlier Tuesday Fox said the the COVID-19 spread could have an adverse material impact on its business.
It’s the latest in a stream of companies to both officially declare the risk the economic shutdown poses to their business and raise cash to see it through hard times.
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