Having perhaps doubled its war-chest to US $3.2 billion (A$4.19 million), there is speculation Rupert Murdoch’s News Corporation is on the lookout for new acquisitions, Seven West perhaps among them.

A $US750 million private debt offering of senior notes announced yesterday – equivalent to about $A982.7 million – brings News’ cash and borrowing capacity to an estimated A$4.19 million, before the costs of three recent acquisitions.

These include Investor’s Business Daily ($US275 million), the consumer books & media segment of Houghton Mifflin Harcourt ($US349 million), and support for Australian subsidiary REA’s bid for Mortgage Choice ($US186 million).

A statement to the New York stock exchange advises that proceeds of the new debt raising will be used for “general corporate purposes, which could include acquisitions and working capital”.

There has been some speculation that a target might be Kerry Stokes’ Seven West Media, not least as Stokes is reported today to have increased his share of building materials group Boral. Stokes’ Seven Group is understood to have used “creep” provisions to increase its share from 19.98 per cent last September to 22.98 per cent without being forced to a takeover offer.