Temple-West, Nicolaou and Aliaj report, “News Corp shares are up 20 per cent this year, outperforming the broader US market and giving the group a valuation of $12.6bn. Its shares have climbed 5 per cent since Friday when Reuters reported that Starboard was taking on the Murdochs. The hedge fund has not disclosed the size of its stake in News Corp.
“A News Corp spokesman said it was engaged with investors and committed to driving shareholder value. ‘We remain focused on executing our strategic plan, which has helped us set records in profitability over the past three years. We are proud of our rapid digital transformation and bright prospects for long-term growth and value creation,’ he said.
“Investors have long complained that the stock market values News Corp at less than the sum of its parts — which include newspapers on three continents, financial information group Dow Jones, book publisher HarperCollins and a majority stake in Australian property listings group REA.”
Read more here.
Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…
Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…
In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…
Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…
Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…
Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…