News Corp Confirms Weighing Sale Of Stake In Operator Move Inc

  • News Corp NWS NWSA confirmed discussions with CoStar Group, Inc CSGP regarding a potential sale of Move, Inc, operator of
  • Any potential transaction would support News Corp's strategy to optimize the value of its Digital Real Estate Services segment while strengthening's competitive position in the market.
  • On January 24, Fox Corp's FOX 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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