Market Overview

News Corp Completes Acquisition of Opcity


Market-leading tech platform will enhance® and
lead generation offerings to benefit real estate professionals and

News Corp announced today that its subsidiary Move Inc., operator of®,
has successfully completed its acquisition of Opcity, the market-leading
real estate technology platform that matches qualified home buyers and
sellers with real estate professionals in real time.

The acquisition broadens®'s
lead generation product portfolio to include Opcity's concierge-based
model. With its broker-centric model, Opcity has grown its U.S. client
base to over 5,000 brokerages and more than 40,000 agents since 2015.

"Real estate is an increasingly significant part of the News Corp
portfolio, and the acquisition of Opcity deepens our engagement with
agents and homebuyers alike," said Robert Thomson, Chief Executive of
News Corp.

"® and
Opcity share a consumer-first philosophy that is focused on keeping real
estate professionals at the center of the transaction," said Ryan
O'Hara, CEO of Move, Inc. "Our combination will enable us to more
effectively bring buyers, sellers and agents together, improving the
consumer experience and providing our industry partners with more
opportunities to connect with clients and grow their businesses."

Opcity, with headquarters in Austin, Texas, will continue to operate
under its current brand. The acquisition purchase price is $210 million,
subject to adjustments.

Digital real estate services is News Corp's fastest growing segment.
Move, Inc. has nearly doubled its revenues since News Corp's acquisition
in 2014 to $452 million in fiscal 2018. News Corp, the most global
digital property company, also owns 61.6 percent of REA Group Limited,
the operator of the leading Australian residential property website,

About News Corp

News Corp (NASDAQ:NWS, NWSA, ASX: NWS, NWSLV)) is a global, diversified
media and information services company focused on creating and
distributing authoritative and engaging content. The company comprises
businesses across a range of media, including: news and information
services, book publishing, digital real estate services, and
subscription video services in Australia. Headquartered in New York,
News Corp operates primarily in the United States, Australia, and the
United Kingdom, and its content is distributed and consumed worldwide.
More information is available at:

About Move, Inc.

Move, Inc. provides access to unsurpassed real estate information, tools
and professional expertise across a family of websites and mobile
experiences for consumers and real estate professionals through all
stages of the home journey. It has a perpetual license to operate® from the National Association of REALTORS®.

The Move network includes®, The Home of Home Search℠, as
well as Doorsteps®,™ and SeniorHousingNet℠.®
pioneered the world of digital real estate 20 years ago, and today helps
make all things home simple, efficient and enjoyable. Move also offers a
complete solution of software products and services to help real estate
professionals serve their clients and grow their business in a digital
world, including ListHub™, the nation's leading listings syndicator and
centralized intelligence platform for the real estate industry; Top
Producer® Systems; FiveStreet℠ and Reesio as well as many free services.
For more information, visit®.

About Opcity Inc.

Based in Austin, Texas, Opcity is modernizing the real estate industry
by matching top real estate professionals with transaction-ready home
buyers and sellers in real-time. Using proprietary data sets and applied
analytics, Opcity's unique technology and matching algorithm turn online
inquiries into transactions, drive increases in conversion, and provide
real estate professionals with centralized insights to effectively
manage their pipelines. Opcity's growth has been fueled by investment
from Silicon Valley-based Icon Ventures, with participation from
artificial intelligence-focused Georgian Partners, and Texas-based
LiveOak Venture Partners. For more information, visit

Forward- Looking Statements

This release contains forward-looking statements based on current
expectations or beliefs, as well as assumptions about future events, and
these statements are subject to factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. The words "expect," "estimate,"
"anticipate," "predict," "believe" and similar expressions and
variations thereof are intended to identify forward-looking statements.
These statements appear in a number of places in this release and
include statements with respect to, among other things, the potential
benefits of the proposed acquisition. Readers are cautioned that any
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties. Factors such as matters arising in
connection with the parties' efforts to comply with and satisfy
applicable regulatory approvals and closing conditions relating to the
acquisition could cause actual results to differ materially from those
described in these forward-looking statements. The forward-looking
statements in this document speak only as of this date and the parties
undertake no obligation (and expressly disclaim any obligation) to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.

View Comments and Join the Discussion!