News Corporation
 (NWS)

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  • Fri, Feb. 5, 8:03 PM
    • Realtor.com -- part of Move Inc. (NWS -6.7%, NWSA -9.1%) -- said after a record year of growth that its site drew 50M unique users in January.
    • Unique visitors via desktop and mobile grew more than 40% Y/Y in 2015, the year in which News Corp. made investments in rapid expansion of the real-estate service. It had previously peaked at 48M uniques in July.
    • The January total was also 34% bigger than the company's previous biggest January: 37M uniques a year ago.
    • Digital real estate services was the only revenue gainer among segments in News Corp.'s earnings report yesterday, growing 35% to bring $208M in sales (by comparison, Cable Network Programming drew just $106M in revenue). CEO Robert Thomson calls News Corp. the world's largest player in digital real estate.
    • News Corp. shares tumbled today after its results showed overall revenue dropping for the fourth quarter in a row, amid continuing declines in core advertising.
    • Previously: News Corp. reports fourth straight quarter of revenue decline (Feb. 04 2016)
    | Fri, Feb. 5, 8:03 PM | 1 Comment
  • Thu, Feb. 4, 8:12 PM
    • Shares of News Corp. (NWS, NWSA) have had no movement in after-hours trading following an earnings report where revenue slipped for the fourth quarter in a row.
    • Advertising continued its decline in core news services. Revenue overall beat slightly but fell 4.4% Y/Y; EPS of $0.20 missed by $0.01, but fell by a third from the prior year (and by more in continuing operations). Real estate services (paced by Realtor.com) provided the bright spot.
    • "Macro-economic conditions in most of our markets have not been auspicious, and foreign exchange fluctuations have been particularly volatile," said CEO Robert Thomson, "but we believe in the enduring value of our prestigious brands and the sound logic of our digital strategy.”
    • Revenue by segment: News and Information Services, $1.4B (down 8%); Book Publishing, $446M (down 5%); Digital Real Estate Services, $208M (up 35%); Cable Network Programming, $106M (down 5%).
    • EBITDA by segment: News and Information Services, $158M (down 27%); Book Publishing, $57M (down 26%); Digital Real Estate Services, $73M (up 28%); Cable Network Programming, $39M (down 28%).
    • Press release
    | Thu, Feb. 4, 8:12 PM | 1 Comment
  • Wed, Jan. 27, 3:23 PM
    • News Corp. (NWS, NWSA) Chairman Rupert Murdoch has gone on the attack over a UK tax deal by Google parent Alphabet, joining opposition politicians in the critique while Prime Minister David Cameron defended the deal.
    • "Google et al broke no tax laws," active tweeter Murdoch tweeted. "Now paying token amounts for p r purposes. Won't work. Need strong new laws to pay like the rest of us."
    • Alphabet agreed to pay £130M in a settlement after a panel found that it paid just $16M in corporate tax to the UK on $18B of revenue over five years.
    • Murdoch's been the subject of the same criticism -- an Economist report in 1999 found News Corp. had paid about 6% over the previous four years, and no net tax in the UK at all on £1.4B in profits made since 1987 -- and Cameron has been criticized for a close relationship with Murdoch.
    • "Tech tax breaks facilitated by politicians easily awed by Valley ambassadors like Google chairman Schmidt eg, posh boys in Downing St.," Murdoch added.
    | Wed, Jan. 27, 3:23 PM | 1 Comment
  • Wed, Jan. 20, 2:23 PM
    • Down double-digits not long ago, Twitter (TWTR +4.2%) has moved well into the green on rumors News Corp. (NWSA -2.8%) is interested in a purchase.
    • News Corp. has denied the rumors.
    | Wed, Jan. 20, 2:23 PM | 61 Comments
  • Fri, Jan. 15, 5:08 PM
    • News Corp. (NWS -2.1%, NWSA -1.6%) and Twenty-First Century Fox (FOX -2.3%, FOXA -1.7%) are reversing course on a plan to become the anchor tenants at 2 World Trade Center, a new 99-story building, and will be staying at their midtown manhattan home.
    • That's from a memo sent by James and Lachlan Murdoch sent to company employees: “We have concluded that a relocation project of this scope could be distracting in the near-term and, given the scale of investment in a relocation of this size, that our resources would be better directed elsewhere."
    • “Make no mistake: it won’t be long before we find a great company to anchor 2 World Trade Center,” said developer Larry Silverstein. “Downtown’s momentum is palpable and unstoppable.”
    • The two companies had signed a non-binding letter of intent to lease 1.3M square feet at the new building, including a ground-level studio space. But real estate brokers told The New York Post that the companies got a "compelling" offer to stay put.
    • Fox and News Corp. have leases at their Sixth Avenue home that run through 2020, with "extension options that could continue our occupancy on Sixth Avenue through 2025."
    • Previously: News Corp., Fox up for millions in incentives for WTC 2 move-in (Dec. 08 2015)
    • Previously: Fox, News Corp. to build joint HQ in World Trade Center tower (Jun. 02 2015)
    • Previously: News Corp., Fox in talks to move HQ to World Trade Center (Apr. 10 2015)
    | Fri, Jan. 15, 5:08 PM | 4 Comments
  • Wed, Jan. 6, 5:33 PM
    • Dow Jones (NWS +0.9%, NWSA -0.5%) is creating a new publishing unit to roll up and organize its brands and explore some new products.
    • Notably, The Wall Street Journal will be separate from the new Dow Jones Media Group, which will include brands like Barron's, MarketWatch and Mansion Global.
    • The new group will be free to pursue more video projects and collaborations with News Corp. while the WSJ's separation will provide some "autonomy" for other pubs, says Dow Jones chief Will Lewis.
    • WSJ Executive Editor Almar Latour will leave that post to become publisher of the new group.
    | Wed, Jan. 6, 5:33 PM
  • Dec. 8, 2015, 4:00 PM
    • The Port Authority of New York and New Jersey is weighing millions of dollars in incentives for News Corp. (NWS -2.7%, NWSA -2.6%) and Twenty-First Century Fox (FOX -1.7%, FOXA -2%) -- key anchor tenants in the planned World Trade Center 2 building.
    • That would mark a reversal from a stance that there wouldn't be public sector support for the building. The agency has the incentives on its Thursday agenda.
    • The companies could receive a reduction in rent amounting to $43M, some of which would eventually be repaid after move-in. That would be offset by $15M from New York state and a tax credit valued at $10M.
    • The Port Authority wants to get construction started on World Trade Center 2, which it believes could generate $500M for future transportation.
    • Previously: Fox, News Corp. to build joint HQ in World Trade Center tower (Jun. 02 2015)
    • Previously: News Corp., Fox in talks to move HQ to World Trade Center (Apr. 10 2015)
    | Dec. 8, 2015, 4:00 PM
  • Dec. 2, 2015, 9:42 PM
    • While speculation about buyers for Yahoo's (NASDAQ:YHOO) core Internet business is focused on private equity, Yahoo's evolution as a media company means a number of media/telecom firms are in play for all or part of the business.
    • A sale of the core business might not happen -- it's not the main purpose of Yahoo's meeting -- but on the other hand, a transaction would certainly value it at more than where it is locked up in Yahoo, which may be less than zero because of the investments in Alibaba and Yahoo Japan.
    • Estimates vary widely on the Internet business' value, from just under $2B to as much as near $4B. Comcast (NASDAQ:CMCSA) could have room for that after it failed to acquire Time Warner Cable; it's been spreading out investments in a number of media and Internet companies this year, and it could lump in Yahoo's properties with its own Xfinity online video.
    • Like Verizon (NYSE:VZ), another potential Yahoo Internet suitor, Comcast has also been shoring up its ad-tech bona fides with some 2015 acquisitions. Verizon could use Yahoo's data to present a better competitive face to Google and Facebook, though it would have redundancies to deal with.
    • Other companies like News Corp. (NWS, NWSA) or Time Inc. (NYSE:TIME) may be more interested in some pieces of Yahoo's business rather than the whole. SunTrust analyst Robert Peck even considers AT&T (NYSE:T) and Walt Disney (NYSE:DIS) prospective buyers; Disney for tapping the data to market theme parts and movies, and AT&T trying to match up better against the Verizon/AOL combo.
    • Previously: FT: P-E firms show interest in Yahoo's core business (updated) (Dec. 02 2015)
    | Dec. 2, 2015, 9:42 PM | 15 Comments
  • Nov. 27, 2015, 7:19 PM
    • The media M&A world is full of hot rumors, but it's a little notable that Rupert Murdoch decided today to get into the gossip game (or at least the trolling game).
    • The mogul tweeted today about "strong word" that Tribune Publishing (TPUB -1.6%) was going to be bought by a "big Wall Street firm," and that the Los Angeles Times would be bought by Eli Broad and a local group.
    • As Jason Abbruzzese points out, Murdoch could just have sour grapes, as News Corp. (NWS -1.6%, NWSA -1.3%) was rumored to be preparing a bid for the company last year before Murdoch said ownership laws "from another age" prevented that.
    • “I am not sure this amounts to ‘case closed,' ” Poynter’s Rick Edmonds said at that time. “My read is that Mr. Murdoch still wants the L.A. Times, still opposes the cross-ownership ban and might seek an exception or repeal.”
    • News Corp. A shares moved up 1.1% in postmarket trading after the abbreviated session.
    | Nov. 27, 2015, 7:19 PM
  • Nov. 27, 2015, 11:22 AM
    • News Corp. (NWS -1.6%, NWSA -1.3%) says its Australian unit has secured five-year rights to the National Rugby League in an $1.8B deal.
    • In conjunction with Nine Entertainment and Telstra (TLSYY +0.4%), Fox Sports secured the rights to show all games ad-free in 2016, and in 2017 will launch a dedicated NRL channel.
    • Fox Sports package subscribers will also have access to the games and related coverage on tablets and smartphones.
    | Nov. 27, 2015, 11:22 AM
  • Nov. 11, 2015, 2:36 AM
    | Nov. 11, 2015, 2:36 AM | 2 Comments
  • Nov. 5, 2015, 8:14 PM
    • News Corp. (NWS, NWSA) posted results for its fiscal first quarter that were largely in line although revenue fell for the third straight quarter as a strong dollar continued to present issues for multinationals.
    • Income from continuing operations was $143M, up from a prior $109M. Digital education is listed as discontinued after the company wrote down the business for $371M last quarter.
    • CEO Robert Thomson praised the real estate results, chiefly momentum at Realtor.com, "which is significantly ahead of schedule on key metrics. We are now, by some reckoning, the world’s largest digital property listings company and we see a particularly bright future in the sector, especially in the U.S. where we believe the national real estate market is still returning to health."
    • Revenue by segment: News and Information Services, $1.29B (down 11%); Book Publishing, $409M (up 1%); Digital Real Estate Services, $191M (up 71%); Cable Network Programming, $124M (down 11%).
    • Free cash flow available to News Corp. was $67M, down from the prior year's $130M.
    | Nov. 5, 2015, 8:14 PM
  • Nov. 2, 2015, 12:56 PM
    • REA Group -- an Australian real estate website firm majority owned by News Corp. (NWS +0.7%, NWSA +0.4%) -- has agreed to buy out a smaller competitor, iProperty Group, for A$580M (about $414M), its parent said in an 8-K filing.
    • News Corp. holds a 61.6% interest in REA Group, which may be facing a slowdown in the Australian real estate market. The move puts REA into potentially faster growing markets in Southeast Asia; iProperty holds the leading property portals in Malaysia, Hong Kong, Thailand and Indonesia.
    • The deal is expected to close in Q1; "As such, it will have little impact on EPS in FY16. On a pro-forma basis the acquisition will be mildly dilutive but iProperty is expected to continue to grow strongly and in line with iProperty’s current revenue growth guidance."
    | Nov. 2, 2015, 12:56 PM
  • Oct. 30, 2015, 3:45 PM
    • The Sun, the UK's biggest-selling newspaper, is dismantling its online paywall after subscriber uptake disappointed expectations.
    • The tabloid, owned by News Corp. (NWS +1.8%, NWSA +1.7%), launched the paywall in 2013. It's the first key move for Rebekah Brooks since she returned to News Corp. last month to oversee its British newspaper operations.
    • The paper will largely be going free on its website, though a few paid products will be retained, Reuters said. The Sun's sister publication, the Times of London, has had more success with its paywall and will be keeping it.
    • Previously: News Corp. confirms Brooks role, leadership changes (Sep. 02 2015)
    • Previously: FT: Brooks set to return to helm of News Corp. UK (Aug. 28 2015)
    | Oct. 30, 2015, 3:45 PM
  • Oct. 26, 2015, 4:39 PM
    • The Australian pay TV unit of News Corp. (NWS -2%, NWSA -1.9%) and Telstra (OTCPK:TLSYY -1.3%) is putting A$77M into broadcaster Network Ten, as the latter announced a heavy fiscal-year loss of A$312M.
    • Ten is raising that amount from existing shareholders as well by offering shares at A$0.15 each, compared to its share price of A$0.19 before a halt.
    • Ultimately, Foxtel -- which was established in 1995 as a joint venture -- will achieve a 15% stake in Ten. Its original bidding partner, Discovery, dropped out of the deal.
    | Oct. 26, 2015, 4:39 PM
  • Oct. 13, 2015, 9:39 AM
    • Unruly, the ad tech company acquired by News Corp. (NWS -0.4%, NWSA -0.5%) last month, has opened its office in Tokyo as part of a broad expansion in the Asia Pacific region.
    • The office will be led by former Facebook Japan Sales Director Haruyo Kagawa.
    • The company's solutions have been present in Japan -- the world's third-largest ad market -- since 2009. Unruly is expecting lots of growth potential in online video advertising there, predicting the Japanese market will be worth nearly $1B by 2017.
    • Only 32% of online video views in Japan occur on YouTube, lowest in Asia Pacific, the company says. Its survey also says that at 35.2%, Japanese viewers are the most likely to find ads the "follow" them around the Internet helpful, and least likely to find them "creepy," at 55.2%.
    • Previously: News Corp. buying social-video ad platform Unruly (Sep. 16 2015)
    | Oct. 13, 2015, 9:39 AM
Company Description
News Corp is a diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses.