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The Murdoch family—owners of Fox News, Sky News Australia, and The New York Post—has tapped into a $100 million loan from the Chinese government’s state-owned Bank of China’s New York branch. The loan is part of a gigantic $1.25 billion loan package disclosed last Thursday to Murdoch’s News Corp . Though not reported by mainstream news in the U.S., the loan comes at the same time as Murdoch’s global media empire virulently denounces the Chinese Communist Party.
According to the 180-page filing with the U.S. Securities and Exchange Commission and the ASX in Australia, the Bank of China’s $100 million in loans is the second-largest after Bank of America, which is contributing $117 million. Other lenders include J.P. Morgan Chase, Citibank, Morgan Stanley Bank, MUFG Bank, Deutsche Bank New York Branch, Goldman Sachs Bank USA, HSBC Bank USA, Australia, and New Zealand Banking Group Limited, Commonwealth Bank of Australia, Westpac Banking Corp., and National Australia Bank Limited. With an estimated $3.7 trillion in assets, the Bank of China is the largest and oldest bank on the Chinese mainland. The news of the funding comes as China ‘s largest city, Shanghai, extended its lockdown on Monday to test its 25 million […]
Read the whole story at uncoverdc.com
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