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News Corp Confirms Weighing Sale Of Stake In Realtor.com Operator Move Inc

Anusuya Lahiri
·1 分鐘文章

  • News Corp (NASDAQ: NWS) (NASDAQ: NWSA) confirmed discussions with CoStar Group, Inc (NASDAQ: CSGP) regarding a potential sale of Move, Inc, operator of Realtor.com.

  • Any potential transaction would support News Corp's strategy to optimize the value of its Digital Real Estate Services segment while strengthening Realtor.com's competitive position in the market.

  • On January 24, Fox Corp's (NASDAQ: FOX) (NASDAQ: FOXA) controlling owner Rupert Murdoch withdrew the proposal to explore a potential combination of Fox and News Corp.

  • Murdoch indicated that he and Lachlan K. Murdoch have determined that a combination is not optimal for the shareholders of Fox and News Corp at this time.

  • Murdoch weighed the merger nearly a decade after the companies split.

  • The companies would be on a firmer footing to compete for digital-ad dollars, using the scale of their combined properties.

  • The combined companies would have around $24 billion in revenue.

  • The companies could join forces in sports betting, a growing sector in which each side has interests.

  • Price Action: NWS shares traded higher by 7.79% at $21.46 on the last check Wednesday.

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This article originally appeared on Benzinga.com

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