27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
News Corp (NASDAQ:NWSA) is close to acquiring the consumer arm of educational publisher Houghton Mifflin Harcourt Co (NASDAQ:HMHC), the Wall Street Journal reported on Sunday, citing sources familiar with the matter.
What Happened: The deal, whose financial terms were not disclosed, would help Rupert Murdoch-owned News Corp add a portfolio of high-profile novels from authors such as George Orwell, Philip Roth and J.R.R. Tolkien to HarperCollins, its publishing arm.
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The deal could be made public on Monday and would be the New York-based News Corp’s second acquisition in less than a week.
Boston-based Houghton will use the cash from the deal to pay down debt and focus on its digital-first strategy in education, according to the report.
News Corp, which owns the Wall Street Journal, Dow Jones & Co and other news organizations in the United Kingdom and Australia, has been of late shedding its non-core assets and is now looking at expansion through select acquisitions.
Why It Matters: The media company is focusing investments on growth areas including books, digital real estate, and the Dow Jones unit, the report noted. The deal comes at a time when most media organizations globally are on a cost-cutting drive to tide over the COVID-19 impact.
Last year, News Corp moved to sell its coupon-publishing unit News America Marketing and video-advertising platform Unruly.
The media group announced plans to buy Investor’s Business Daily for $275 million last week, adding another publication catering to investors to its portfolio. The Dow Jones unit, which also publishes MarketWatch and Barron’s, will operate Investor’s Business Daily.
Price Action: Shares of News Corp, which have risen 41.6% so far this year, closed 1.85% lower at $25.7 on Friday and those of Houghton were down 0.17% at $5.98.
Photo by Edgar Zuniga Jr. on Flickr
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.