Bank reporting, Telstra, News Corp, Mirvac
Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
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News Corp is a global diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses throughout the world. The company comprises businesses across a range of media, including: news and information services, book publishing, digital real estate services, cable network programming in Australia and pay-TV distribution in Australia.
Fund Manager Chris Pedersen discusses bank reporting, Telstra, News Corp and Mirvac Group.
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News Corp has acknowledged receipt of a letter from the activist shareholder group, Starboard Value, but immediately rejected its claims that the company's current control structure—dominated by the Murdoch family via a voting/non-voting share structure—is problematic.
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American home sales hit a 30-year low, delivering bad news for News Corp and its 61% owned Australian US property listings REA Group.
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A massive New York property deal has sketched the likely future shape of News Corporation and Fox Corporation, the key companies in the Murdoch family’s media empire.
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US market talk has it that Rupert Murdoch is exploring a recombination of Fox Corp and News Corp just over 9 years after he engineered the split in the family empire.
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News Corp has reportedly lost its most experienced real estate executive, with Tracey Fellows, the head of Move – the company’s US version of REA Group - set to leave.
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The broker raises FY22-24 EPS forecasts by 34%, 12% and 11%, respectively, which lifts the price target to $42.5 from $41.50.
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The Outperform rating and $40 price target are unchanged.
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A two-day powwow is planned at Foxtel this week, ostensibly to discuss the company's strategy moving forward. But the bigger question remains: Will News Corp float it or keep it?
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Rupert Murdoch’s News Corp has announced a $US1 billion program that will include the B Class voting shares, but will sterilise the existing stake of the family in the voting shares.
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