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.
With a portfolio of 18 newsletters and hundreds of thousands of subscribers, Reuters has a…
Kitty Donaldson, UK political editor for Bloomberg News, is leaving the news organization for a…
Melara Enterprises seeks a business journalist to join our team in developing and producing original content…
Joanna Sullivan, the editor in chief of the Baltimore Business Journal, writes about the redesign…
Fortune has won the the Best Editorial Package award in the annual Digiday Media Awards…
Washington Bureau Chief Margaret Collins announced that Kate Davidson will become managing editor of economic…