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Short Take: OmniSky staked $75 million

News Corp. and PSINet today took a $75 million stake, $60 million and $15 million respectively, in OmniSky. OmniSky offers Internet services for cell phone users and operates a portal that develops those features, available to users of AT&T's wireless services. Also today, OmniSky and New Corp. agreed to an alliance to explore international strategies based on OmniSky and seek to develop high-speed Internet services.

News Corp. and PSINet today took a $75 million stake, $60 million and $15 million respectively, in OmniSky. OmniSky offers Internet services for cell phone users and operates a portal that develops those features, available to users of AT&T's wireless services. Also today, OmniSky and New Corp. agreed to an alliance to explore international strategies based on OmniSky and seek to develop high-speed Internet services.