CoStar interested in NewsCorp’s Move

CoStar Group, which operates a real estate news service, express interest in investing or acquiring News Corp.’s stake in real estate business move, reports Lauren Fischer, Katie Robertson and Benjamin Mullin of The New York Times.

Fischer, Robertson and Mullin report, “The CoStar Group, a provider of data and marketing services to the commercial real estate industry, recently informed News Corp that it was interested in acquiring the company’s stake in the digital real estate business Move at a valuation of more than $3 billion, the people said. After the talks with CoStar got serious, News Corp and Fox decided to put the merger talks on pause to await the outcome of negotiations with CoStar.

“A spokesman for CoStar said the company continually evaluated opportunities for mergers and acquisitions, declining to comment on potential discussions with News Corp.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.