Historic low in US home sales
American home sales hit a 30-year low, delivering bad news for News Corp and its 61% owned Australian US property listings REA Group.
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News Corporation
News Corp is a global diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, cable network programming in Australia and pay-TV distribution in Australia.
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Bank reporting, Telstra, News Corp, Mirvac
Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
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Bank reporting, Telstra, News Corp, Mirvac
Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
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News Corp Extends HQ Lease for 20 Years
A massive New York property deal has sketched the likely future shape of News Corporation and Fox Corporation, the key companies in the Murdoch family’s media empire.
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Street Abuzz with Fox-News Corp Reunification Talk
US market talk has it that Rupert Murdoch is exploring a recombination of Fox Corp and News Corp just over 9 years after he engineered the split in the family empire.
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Key Property Exec Moving on from News Corp
News Corp has reportedly lost its most experienced real estate executive, with Tracey Fellows, the head of Move – the company’s US version of REA Group - set to leave.
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Analyst Views
NWS – UBS rates the stock as Buy
The broker raises FY22-24 EPS forecasts by 34%, 12% and 11%, respectively, which lifts the price target to $42.5 from $41.50.
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NWS – Credit Suisse rates the stock as Outperform
The Outperform rating and $40 price target are unchanged.
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NWS – UBS rates the stock as Buy
Second quarter results were materially ahead of UBS estimates. UBS plans to review its forecasts and retains its Buy rating and $29 target.
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NWS – UBS rates the stock as Buy
News Corp owns 61.6% of the separately listed REA Group ((REA)). Looking at REA's last share price and News Corp's B class last share price, UBS estimates REA makes up about 71-79% of News Corp's market value (versus the peak of 88% on June 22).
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