Dec. 19, 2014, 4:55 PM
- News Corp. (NASDAQ:NWS) has bought BigDecisions.com, 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 BigDecisions.com 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 PropTiger.com.
Dec. 15, 2014, 9:42 AM
Nov. 24, 2014, 6:55 PM
- News Corp. (NASDAQ:NWS) is spending $30M to buy a 25% stake in PropTiger.com, a leading Indian real estate site.
- The investment comes on the heels of News Corp.'s $950M purchase of Realtor.com owner Move. The company also had a 61.6% stake in REA Group, which owns leading Australian real estate site realestate.com.au.
Nov. 23, 2014, 4:40 PM
- Discovery (NASDAQ:DISCA) and Foxtel (NASDAQ:NWS) are reportedly preparing to offer shareholders in Ten Network Holdings a potential interest in any turnaround in its financial performance in to an effort win the takeover auction for the troubled company.
- Time Warner (NYSE:TWX) is reportedly out of the running.
- Ten's tentative deadline for indicative offers is Dec. 2.
- Source: AFR
- Previously: Race for Ten Network Holdings to heat up this week (Nov. 10)
Nov. 14, 2014, 8:40 AM
Nov. 10, 2014, 7:54 AM
- Potential suitors for Ten Network Holdings are expected to attend presentations by management in Australia this week as the sale process speeds up.
- Time Warner (NYSE:TWX) has already thrown out a $588M offer price for Ten Network, while a joint Discovery Communications (NASDAQ:DISCA)-Foxtel (NASDAQ:NWS) bid is also anticipated.
Nov. 5, 2014, 6:21 PM
Oct. 20, 2014, 8:16 AM
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.
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. 23, 2014, 1:16 PM| Comment!
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
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. 7, 2014, 9:10 AM
Jan. 21, 2014, 5:30 PM
- Lex Fenwick, the CEO of News Corp.'s (NWS, NWSA) Dow Jones unit for the last two years, is leaving the company. Chief creative officer William Lewis has been named interim CEO. (PR)
- News Corp. adds it's "reviewing the institutional strategy of Dow Jones." Among other things, it's planning "improvements" for the nascent DJX information service (still in beta mode), and asserts it's "redoubling" its efforts to "develop the Wall Street Journal and its digital properties globally."
- In addition to the Wall Street Journal, Dow Jones owns Barron's, Marketwatch.com, and financial news service Factiva.
NWS vs. ETF Alternatives
Other News & PR