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News Corporation (NWSA)

- NASDAQ
  • Mon, Mar. 23, 9:39 AM
    • After recently lowering its joint bid with Foxtel (NASDAQ:NWSA) in a months-long auction process for Australia's Ten Network, Discovery Communications (NASDAQ:DISCA) is bailing out of the proceedings.
    • The two companies had already dropped a push for full control of Ten after running into pushback from Bruce Gordon, the owner of regional broadcaster Win Corp. who's already at a legally mandated limit of 14.99% ownership of Ten.
    • Discovery reportedly balked at Ten's suggestion that it take only a 14.99% stake itself, rather than a controlling share.
    • Foxtel now must decide whether to pursue the minority stake on its own.
    • Previously: Discovery gives back some gains on Fox merger denials (Feb. 23 2015)
    • Previously: Discovery/Foxtel frontrunner in bid for Ten (Nov. 23 2014)
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  • Thu, Mar. 19, 6:40 AM
    • News Corp (NASDAQ:NWS) has increased its stake in Australia's APN News & Media (OTCPK:APNDY) from an undisclosed level to 14.99%, the maximum shareholding allowed in the country without a formal takeover offer.
    | Comment!
  • Fri, Mar. 13, 6:16 PM
    • Dutch startup Blendle has reached micropayment agreements with the New York Times Co. (NYSE:NYT), The Wall Street Journal (NASDAQ:NWSA) and the Washington Post that will permit readers to buy articles one at a time with a single click, most likely for $0.20/piece.
    • NYT is already an investor in Blendle, which would get a 30% cut with the rest going to publishers -- an Apple-app-like deal.
    • The arrangement is yet another customer alternative to the papers' metered strategy of allowing some free articles before readers run into a subscription paywall.
    • The service is only available in the Netherlands for now -- the company has more than 220,000 users -- but should come to the U.S. later this year as Blendle adds more publishers.
    | 4 Comments
  • Mon, Mar. 2, 4:46 AM
    • Nearly four years after Rebekah Brooks left News Corporation (NASDAQ:NWS) amid the phone-hacking scandal at the now-defunct U.K. tabloid the News of the World, the former executive is close to finalizing a deal to return to the company.
    • The details of her exact role are still being discussed, but Brooks could end up in an executive position overseeing digital initiatives, WSJ reports.
    • Brooks was acquitted last year on four charges related to illegal activity, including conspiracy to intercept voicemails and illegal payments to a public official.
    | 1 Comment
  • Mon, Feb. 23, 12:33 PM
    • Discovery Communications (NASDAQ:DISCA) gives back much of its morning surge (shares were up 9%; now back to +5%) as the company joins FOX in denying a story (Fox says "categorically untrue") that the two companies talked merger.
    • Maybe the rumor comes from a misunderstanding about a joint bid Discovery has put in with Foxtel (NASDAQ:NWSA) for Australia's Ten Network?
    • Sanford's Todd Juenger says if the companies are telling the truth and they're not talking, then maybe they should be: "We believe a merger between Fox and Discovery would make strategic sense on a number of levels ... We still love the idea of Discovery as Fox’s next best alternative" to its failed tie-up with Time Warner.
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  • Fri, Feb. 20, 9:37 PM
    • Graham Holdings (NYSE:GHC) -- the former Washington Post Company -- was up 3.7% at the open and easily crested the $1,000/share mark again, following its Q4 earnings, before giving back all of the day's gains by midday.
    • Education revenues from Kaplan operations ($551.4M, nearly flat) still made up the bulk of its $925.3M in revenues, but particularly strong were revenues in TV broadcasting, up 20% to $102.4M (aided by political ads in a midterm election year). Operating income in broadcast was up 24% to $54.4M.
    • Revenue from "other businesses" (which includes digital-heavy publishing operations like Slate, Foreign Policy, The Root) more than doubled to $73.8M, from $30.7M.
    • Seems like unloading The Washington Post to Jeff Bezos made the rest of the business great, Benjamin Freed says. He notes that now-GHC shares opened at $560.14 that summer 2013 day, headed to $584.97 that week and it's been a "robust trajectory" ever since. From the time of the sale, shares are up 83% vs. the S&P's +22%.
    • Other companies are doing the same, he notes: See News Corp. (NASDAQ:NWSA) splitting off Twenty-First Century Fox (FOX, FOXA); Tribune Media (NYSE:TRCO) dropping publications into Tribune Publishing and thriving as a broadcast/real estate company; and Gannett (NYSE:GCI), which plans to spin off USA Today and its dailies.
    • Q4 earnings; press release
    | Comment!
  • Thu, Feb. 5, 5:07 PM
    • News (NASDAQ:NWSA): FQ2 EPS of $0.26 beats by $0.02.
    • Adjusted Revenue of $2.23B (flat Y/Y).
    • Press Release
    | Comment!
  • Wed, Feb. 4, 3:51 PM
    • Kingdom Holding Co. -- the publicly listed investment vehicle of Saudi Arabia's Prince Al-Waleed bin Talal -- is selling most of its 6.6% stake in B shares of News Corp. ((NWS -0.3%), (NWSA -0.4%)), leaving it with 1%, and generating about $188M.
    • The company, however, is maintaining its 6.6% share of Twenty-First Century Fox ((FOX +0.2%), (FOXA)). It says the sale was part of a general portfolio review.
    • Al-Waleed publicly supported Rupert Murdoch through the phone-hacking scandal and investigations and took pains to do so again: "We remain firm believers in NewsCorp’s competent management, led by CEO Robert Thomson, and are fully supportive of Rupert Murdoch and his family."
    • The Murdoch companies report earnings over the next 24 hours.
    | Comment!
  • 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.
    | 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.
    | Comment!
  • 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.
    | 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.
    | Comment!
  • 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.
    | 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.
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  • 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
    | 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.
    | 1 Comment
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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.