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News Corp CEO says drop in pound "auspicious" for $295 mln Wireless deal

Reuters - UK Focus

LONDON, June 30 (Reuters) - The boss of Rupert Murdoch's News Corp (Other OTC: NWSAL - news) said the timing of the U.S (Other OTC: UBGXF - news) . group's offer for talkSPORT-owner Wireless after the post-Brexit drop in the pound was "auspicious", although the companies had been in talks for some time.

"Clearly it's a deal that's been in the works for a while, but it's quite fair to say that the decline in the pound is auspicious in the circumstances," Thomson told Reuters after the announcement of the 220 million-pound ($295 million) deal that brings together the publisher of The Sun and The Times newspapers with the sports radio broadcaster.

Murdoch said on Tuesday the falling pound made Britain more competitive, Sky News and Times journalist Ed Conway tweeted.

The value of the pound hit a 31-year low against the dollar on Monday after Britons voted to leave the European Union a week ago. ($1 = 0.7448 pounds) (Reporting by Paul Sandle; Editing by Greg Mahlich)