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Stock Market & Financial Investment News

News Breaks
May 1, 2012
06:56 EDTNWSANews Corp. May volatility flat into Q3 and ad growth outlook
News Corp. May put option implied volatility is at 33, June and July is at 28; compared to its 26-week average of 33 according to Track Data, suggesting non-directional price movement into the expected release of Q3 results on May 9.
News For NWSA From The Last 14 Days
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October 1, 2014
05:37 EDTNWSAMove, Inc. downgraded to Neutral from Buy at B. Riley
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September 30, 2014
16:22 EDTNWSAOn The Fly: Closing Wrap
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12:40 EDTNWSAOn The Fly: Midday Wrap
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09:10 EDTNWSAOn The Fly: Pre-market Movers
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08:59 EDTNWSANews Corp. sees Move, Inc. deal 'modestly accretive' in short term
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08:52 EDTNWSANews Corp. sees Move, Inc. deal to close in 2Q15
News Corp (NWSA) believes Move, Inc. (MOVE) is in a unique position and holds an important role for the company to expand in the digital real estate industry. Says this is the most significant acquisition the company has made since launching as a separate company last summer. Says this acquisition allows the company to stay committed to returning capital to shareholders. Says believes that Move Inc.'s strategy is different that that of Trulia (TRLA) and Zillow (Z). Says expects that the transaction will be very modestly EPS valued in the short term. News Corp continues to expect to generate positive cash flow regardless of the acquisition. Says Move, Inc. will improve and enhance the core media assets of News Corp. Comments made during a conference call discussing News Corp's acquisition of Move, Inc.
06:34 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
News Corp and Move, Inc. announced that News Corp has agreed to acquire Move. REA Group Limited, which is 61.6% owned by News Corp and is the operator of Australian residential property website, realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp. Under the acquisition agreement, which has been unanimously approved by the board of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950M, via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately $200M. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares. News Corp. CEO Robert Thomson said, "In addition to boosting Move’s subscription, advertising and software services, this acquisition will give News Corp a significant marketing platform for our media assets, which will benefit from the high-quality geographic data generated by real estate searches. We certainly expect this deal to amount to far more than the sum of the parts.” For the year ended December 31, 2013, Move reported $227M in revenues, and $29M in adjusted EBITDA5, and generated the highest revenue per unique user in the industry. Move will become an operating business of News Corp and remain headquartered in San Jose, California.
06:32 EDTNWSANews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
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September 25, 2014
09:00 EDTNWSAGoogle responds to News Corp. criticism in blog post
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September 19, 2014
10:07 EDTNWSAHigh option volume stocks
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