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News Corporation (NWSA)

  • Wed, Feb. 4, 5:35 AM
    • Saudi Arabia's Kingdom Holding, owned by Saudi billionaire Prince Alwaleed Bin Talal, has cut its stake in Rupert Murdoch’s News Corp. (NASDAQ:NWS), reducing its shareholding in Class B shares to 1% from 6.6%.
    • The bourse statement announcing the news stated that the sale generated "705M riyals ($187.9M)", which will be used for other investments.
    | Wed, Feb. 4, 5:35 AM | Comment!
  • Mon, Feb. 2, 7:22 PM
    • The Justice Dept. wraps a lengthy probe of News Corp. (NWS, NWSA) and Twenty-First Century Fox (FOX, FOXA) by deciding not to prosecute the companies in relation to the U.K. phone hacking/bribery scandals of 2011.
    • The companies still face a number of probes as well as litigation in Great Britain.
    • The U.S. case included looking into possible violations of the Foreign Corrupt Practices Act.
    | Mon, Feb. 2, 7:22 PM | Comment!
  • Dec. 19, 2014, 4:55 PM
    • News Corp. (NASDAQ:NWS) has bought, a site that "aims to help Indian consumers make smarter financial decisions through interactive, decision-making tools powered by sophisticated algorithms and data." Terms are undisclosed.
    • With News Corp. stating has "helped some 40,000 users," the site appears to have a fairly small base as of now. Last month, News Corp. spent $30M to take a 25% stake in Indian real estate site
    | Dec. 19, 2014, 4:55 PM | Comment!
  • Dec. 15, 2014, 9:42 AM
    • Storyful announces Rahul Chopra will be its new CEO.
    • Chopra served as Chief Revenue Office at News Corp. in his previous role.
    • The social news agency was acquired by News Corp. (NWS, NWSA) a year ago.
    | Dec. 15, 2014, 9:42 AM | Comment!
  • Nov. 24, 2014, 6:55 PM
    • News Corp. (NASDAQ:NWS) is spending $30M to buy a 25% stake in, a leading Indian real estate site.
    • The investment comes on the heels of News Corp.'s $950M purchase of owner Move. The company also had a 61.6% stake in REA Group, which owns leading Australian real estate site
    | Nov. 24, 2014, 6:55 PM | Comment!
  • Nov. 14, 2014, 8:40 AM
    • News Corp (NWS, NWSA) announces it completed the acquisition of Move Inc.
    • The purchase gives News Corp access to an online business that displays information for 98% of all properties listed for sale in the U.S.
    | Nov. 14, 2014, 8:40 AM | Comment!
  • Nov. 5, 2014, 6:43 PM
    • News (NASDAQ:NWSA): FQ1 EPS of $0.09 beats by $0.06.
    • Revenue of $2.15B (+3.9% Y/Y) beats by $60M.
    • Shares +3.86% AH.
    • Press Release
    | Nov. 5, 2014, 6:43 PM | Comment!
  • Sep. 30, 2014, 6:46 AM
    • News Corp (NWS, NWSA) is acquiring Move Inc. (NASDAQ:MOVE) for $950M, or $21/share, a 37% premium over MOVE's Monday close.
    • News Corp will own 80% of Move (MOVE); REA Group, which is 61.6% owned by News Corp, will take the other 20%.
    • Move had 2013 revenue of $227M. News Corp says the acquisition will provide a "significant marketing platform for our media assets."
    • Back in April, SA contributor Michael Ranalli called the bottom in MOVE (sub. req'd) when it was trading around $10/share.
    | Sep. 30, 2014, 6:46 AM | 1 Comment
  • Aug. 7, 2014, 4:58 PM
    • News (NASDAQ:NWSA): FQ4 EPS of $0.01 misses by $0.03.
    • Revenue of $2.18B (-3.5% Y/Y) beats by $10M.
    • Press Release
    | Aug. 7, 2014, 4:58 PM | Comment!
  • Jun. 26, 2014, 8:09 AM
    • "We view News Corp. (NWS, NWSA) as a classic media value play, as its individual pieces are undervalued, but provide downside protection for the stock," says analyst John Janedis, initiating with a Buy and $22 price target.
    • "We expect fundamentals to improve, which should translate to multiple expansion in the stock ... Longer-term, similar to other media companies, we think NWSA could spin off assets to create value. In our view, NWSA is not the newspaper value trap of years past due to the value of REA, Foxtel, Harper Collins, and cash balance."
    • "Given valuation of the stock, we think a successful outcome [of strategic initiatives] is currently priced into the stock at current levels," he says, starting New York Times (NYT) with a Hold and $15 price target.
    • "We think the combination of tepid ad growth and the regulatory overhang will continue to slow the acquisition pipeline and constrain multiple expansion," he says, starting Nexstar Broadcasting (NXST) at Hold with $48 price target. "While 2014 will be a big year for political advertising, we do not see significant upside to our estimates."
    • Gannett (GCI) is initiated with a Buy.
    • Previously: Jefferies launches coverage on media names
    | Jun. 26, 2014, 8:09 AM | Comment!
  • Jun. 23, 2014, 1:16 PM
    • News Corp. (NWS, NWSA) says it will sell a group of 11 local newspapers held in its Community Newspaper Group business.
    • The deal, which includes The Brooklyn Paper and Bronx Times Reporter, is expected to close next week.
    • Financial terms weren't disclosed.
    | Jun. 23, 2014, 1:16 PM | Comment!
  • May 8, 2014, 4:36 PM
    • News (NWSA): FQ3 EPS of $0.11 beats by $0.09.
    • Revenue of $2.08B (-4.6% Y/Y) beats by $10M.
    • Press Release
    | May 8, 2014, 4:36 PM | Comment!
  • May 2, 2014, 10:03 AM
    • News Corp. (NWS, NWSA) buys Harlequin Enterprises from Torstar Corporation for C$455M ($414M).
    • The romance publisher pushes out more than 110 titles a month.
    • The company plans to accelerate Harlequin's digital presence.
    • Execs with News Corp. expect a lift to earnings from the acquisition.
    | May 2, 2014, 10:03 AM | 1 Comment
  • Mar. 26, 2014, 5:23 AM
    • Lachlan Murdoch has been appointed non-executive co-chairman at Fox (FOXA) and at News Corp. (NWSA), while brother James has been promoted to the role of co-COO at Fox to work alongside Chase Carey.
    • Lachlan Murdoch's double appointment comes seven years after he left the family business following disagreements with father Rupert and other executives.
    • Away from what looks suspiciously like a Murdoch succession battle, Peter Rice, Chairman and CEO at Fox Networks Group, has agreed to extend his employment agreement.
    • Fox PR
    • News Corp. PR
    | Mar. 26, 2014, 5:23 AM | Comment!
  • Feb. 17, 2014, 5:35 AM
    • News Corp (NWS) has received a rebate of A$882M ($796.62M) from Australia’s tax authorities after it won a legal battle over A$2B in forex losses that it suffered during a restructuring in 1989.
    • The Australian Tax Office had refused to allow the deduction but was defeated in the country's Federal Court in July.
    • The payment has only just come to light, although News Corp received the money at the end of last year.
    • The ATO's defeat exacerbates country's budget deficit, which is forecast at A$47B for FY 2013-14.
    | Feb. 17, 2014, 5:35 AM | 3 Comments
  • Feb. 7, 2014, 9:10 AM
    • Shares of News Corp (NWS, NWSA) move higher after the company beats profit estimates with its FQ2 report.
    • Deep cost-cutting helped make up for declining advertising revenue at the publishing conglomerate.
    • NWS +6.1% premarket
    | Feb. 7, 2014, 9:10 AM | Comment!
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.