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Stock Market & Financial Investment News

News Breaks
February 5, 2013
10:51 EDTNWSNews Corp. February volatility elevated into Q2 and advertising growth outlook
News Corp. February put option implied volatility is at 34, March and April is at 26; compared to its 26-week average of 24 according to Track Data, suggesting larger near term price movement into the expected release of Q2 results after the market close on February 6.
News For NWS From The Last 14 Days
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September 30, 2014
07:26 EDTNWSMove, Inc.volatility low into News Corp to acquiring for $950M
Move, Inc. (MOVE) overall option implied volatility of 43 is below its 26-week average of 52 according to Track Data, suggesting decreasing price movement into News Corp (NWS) agreeing to acquire for $21 per share.
06:51 EDTNWSNews Corp to host conference call
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06:34 EDTNWSNews 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 EDTNWSNews Corp to acquire Move, Inc. for $21 per share, or approximately $950M
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September 17, 2014
17:48 EDTNWSNews Corp opposed Google EC settlement offer
Early last week, in a letter to European Commissioner for Competition Joaquín Almunia, News Corp (NWS, NWSA) CEO Robert Thomson opposed Google’s (GOOG) settlement offer with the European Commission, or EC, saying the internet giant is “willing to exploit its dominant market position to stifle competition.” Thomson said News Corp also opposed the proposed five year term of a settlement, noting that “five years is an eternity in internet time.” Citing Google’s “egregious aggregation” of content, Mr. Thomson said that, along with serious commercial damage, there is a “profound social cost” to Google’s actions. “The internet should be a canvas for freedom of expression and for high quality content of enduring value. Undermining the basic business model of professional content creators will lead to a less informed, more vexatious level of dialogue in our society.” "Your decision to reconsider Google's settlement offer comes at a crucial moment in the history of the free flow of information and of a healthy media in Europe and beyond," Mr. Thomson wrote.

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