Intrinsic value of News Corp Cl A - NWSA

Previous Close

$13.09

  Intrinsic Value

$7.57

stock screener

  Rating & Target

sell

-42%

  Value-price divergence*

-49%

Previous close

$13.09

 
Intrinsic value

$7.57

 
Up/down potential

-42%

 
Rating

sell

 
Value-price divergence*

-49%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of NWSA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -1.85
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  8,139
  8,302
  8,493
  8,711
  8,956
  9,228
  9,525
  9,850
  10,201
  10,579
  10,985
  11,420
  11,883
  12,377
  12,901
  13,458
  14,047
  14,672
  15,332
  16,029
  16,766
  17,543
  18,363
  19,226
  20,137
  21,095
  22,105
  23,167
  24,285
  25,461
  26,698
Variable operating expenses, $m
 
  8,145
  8,323
  8,527
  8,756
  9,010
  9,289
  9,592
  9,920
  10,274
  10,653
  10,676
  11,109
  11,570
  12,061
  12,581
  13,132
  13,716
  14,333
  14,985
  15,674
  16,400
  17,166
  17,974
  18,825
  19,721
  20,664
  21,658
  22,703
  23,802
  24,959
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  8,754
  8,145
  8,323
  8,527
  8,756
  9,010
  9,289
  9,592
  9,920
  10,274
  10,653
  10,676
  11,109
  11,570
  12,061
  12,581
  13,132
  13,716
  14,333
  14,985
  15,674
  16,400
  17,166
  17,974
  18,825
  19,721
  20,664
  21,658
  22,703
  23,802
  24,959
Operating income, $m
  -615
  157
  170
  184
  200
  217
  237
  258
  281
  306
  332
  744
  774
  806
  841
  877
  915
  956
  999
  1,044
  1,092
  1,143
  1,196
  1,253
  1,312
  1,374
  1,440
  1,509
  1,582
  1,659
  1,740
EBITDA, $m
  -166
  783
  801
  822
  845
  871
  899
  930
  963
  998
  1,037
  1,078
  1,121
  1,168
  1,218
  1,270
  1,326
  1,385
  1,447
  1,513
  1,582
  1,656
  1,733
  1,814
  1,900
  1,991
  2,086
  2,186
  2,292
  2,403
  2,520
Interest expense (income), $m
  0
  10
  12
  15
  18
  22
  27
  31
  36
  42
  48
  54
  61
  68
  76
  84
  93
  102
  112
  122
  133
  144
  157
  169
  183
  197
  212
  228
  245
  262
  280
Earnings before tax, $m
  -615
  147
  157
  169
  181
  195
  210
  227
  245
  264
  284
  690
  713
  738
  765
  793
  823
  854
  887
  922
  959
  999
  1,040
  1,083
  1,129
  1,177
  1,228
  1,282
  1,338
  1,397
  1,459
Tax expense, $m
  28
  40
  43
  46
  49
  53
  57
  61
  66
  71
  77
  186
  193
  199
  206
  214
  222
  231
  240
  249
  259
  270
  281
  292
  305
  318
  332
  346
  361
  377
  394
Net income, $m
  -738
  108
  115
  123
  132
  142
  153
  166
  179
  193
  207
  504
  521
  539
  558
  579
  600
  623
  648
  673
  700
  729
  759
  791
  824
  859
  896
  935
  977
  1,020
  1,065

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  2,016
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  14,552
  12,792
  13,086
  13,422
  13,800
  14,218
  14,677
  15,177
  15,718
  16,301
  16,927
  17,596
  18,310
  19,070
  19,878
  20,736
  21,645
  22,607
  23,624
  24,699
  25,833
  27,031
  28,294
  29,625
  31,027
  32,504
  34,060
  35,697
  37,419
  39,231
  41,137
Adjusted assets (=assets-cash), $m
  12,536
  12,792
  13,086
  13,422
  13,800
  14,218
  14,677
  15,177
  15,718
  16,301
  16,927
  17,596
  18,310
  19,070
  19,878
  20,736
  21,645
  22,607
  23,624
  24,699
  25,833
  27,031
  28,294
  29,625
  31,027
  32,504
  34,060
  35,697
  37,419
  39,231
  41,137
Revenue / Adjusted assets
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
  0.649
Average production assets, $m
  4,259
  4,342
  4,442
  4,556
  4,684
  4,826
  4,982
  5,151
  5,335
  5,533
  5,745
  5,973
  6,215
  6,473
  6,747
  7,038
  7,347
  7,673
  8,019
  8,383
  8,769
  9,175
  9,604
  10,055
  10,531
  11,033
  11,561
  12,116
  12,701
  13,316
  13,963
Working capital, $m
  1,363
  -565
  -578
  -592
  -609
  -627
  -648
  -670
  -694
  -719
  -747
  -777
  -808
  -842
  -877
  -915
  -955
  -998
  -1,043
  -1,090
  -1,140
  -1,193
  -1,249
  -1,307
  -1,369
  -1,434
  -1,503
  -1,575
  -1,651
  -1,731
  -1,815
Total debt, $m
  379
  346
  431
  528
  638
  759
  892
  1,037
  1,194
  1,363
  1,545
  1,739
  1,946
  2,166
  2,401
  2,649
  2,913
  3,192
  3,487
  3,799
  4,128
  4,475
  4,841
  5,227
  5,634
  6,062
  6,513
  6,988
  7,488
  8,013
  8,566
Total liabilities, $m
  3,743
  3,710
  3,795
  3,892
  4,002
  4,123
  4,256
  4,401
  4,558
  4,727
  4,909
  5,103
  5,310
  5,530
  5,765
  6,013
  6,277
  6,556
  6,851
  7,163
  7,492
  7,839
  8,205
  8,591
  8,998
  9,426
  9,877
  10,352
  10,852
  11,377
  11,930
Total equity, $m
  10,809
  9,082
  9,291
  9,530
  9,798
  10,095
  10,421
  10,776
  11,160
  11,574
  12,018
  12,493
  13,000
  13,540
  14,114
  14,723
  15,368
  16,051
  16,773
  17,536
  18,342
  19,192
  20,089
  21,034
  22,029
  23,078
  24,182
  25,345
  26,568
  27,854
  29,208
Total liabilities and equity, $m
  14,552
  12,792
  13,086
  13,422
  13,800
  14,218
  14,677
  15,177
  15,718
  16,301
  16,927
  17,596
  18,310
  19,070
  19,879
  20,736
  21,645
  22,607
  23,624
  24,699
  25,834
  27,031
  28,294
  29,625
  31,027
  32,504
  34,059
  35,697
  37,420
  39,231
  41,138
Debt-to-equity ratio
  0.035
  0.040
  0.050
  0.060
  0.070
  0.080
  0.090
  0.100
  0.110
  0.120
  0.130
  0.140
  0.150
  0.160
  0.170
  0.180
  0.190
  0.200
  0.210
  0.220
  0.230
  0.230
  0.240
  0.250
  0.260
  0.260
  0.270
  0.280
  0.280
  0.290
  0.290
Adjusted equity ratio
  0.701
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710
  0.710

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -738
  108
  115
  123
  132
  142
  153
  166
  179
  193
  207
  504
  521
  539
  558
  579
  600
  623
  648
  673
  700
  729
  759
  791
  824
  859
  896
  935
  977
  1,020
  1,065
Depreciation, amort., depletion, $m
  449
  626
  632
  638
  645
  653
  662
  672
  682
  693
  705
  334
  347
  362
  377
  393
  410
  429
  448
  468
  490
  513
  537
  562
  588
  616
  646
  677
  710
  744
  780
Funds from operations, $m
  588
  734
  747
  761
  778
  796
  816
  837
  860
  885
  912
  837
  868
  901
  935
  972
  1,011
  1,052
  1,096
  1,142
  1,190
  1,242
  1,296
  1,353
  1,413
  1,476
  1,542
  1,612
  1,686
  1,764
  1,845
Change in working capital, $m
  94
  -11
  -13
  -15
  -17
  -18
  -20
  -22
  -24
  -26
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -50
  -53
  -56
  -59
  -62
  -65
  -69
  -72
  -76
  -80
  -84
Cash from operations, $m
  494
  745
  760
  776
  794
  814
  836
  859
  884
  911
  940
  867
  899
  934
  971
  1,010
  1,051
  1,095
  1,141
  1,189
  1,240
  1,294
  1,351
  1,411
  1,474
  1,541
  1,611
  1,685
  1,762
  1,844
  1,929
Maintenance CAPEX, $m
  0
  -238
  -243
  -248
  -255
  -262
  -270
  -278
  -288
  -298
  -309
  -321
  -334
  -347
  -362
  -377
  -393
  -410
  -429
  -448
  -468
  -490
  -513
  -537
  -562
  -588
  -616
  -646
  -677
  -710
  -744
New CAPEX, $m
  -256
  -83
  -100
  -114
  -128
  -142
  -156
  -170
  -184
  -198
  -212
  -227
  -242
  -258
  -274
  -291
  -308
  -326
  -345
  -365
  -385
  -406
  -429
  -452
  -476
  -501
  -528
  -556
  -585
  -615
  -647
Cash from investing activities, $m
  -105
  -321
  -343
  -362
  -383
  -404
  -426
  -448
  -472
  -496
  -521
  -548
  -576
  -605
  -636
  -668
  -701
  -736
  -774
  -813
  -853
  -896
  -942
  -989
  -1,038
  -1,089
  -1,144
  -1,202
  -1,262
  -1,325
  -1,391
Free cash flow, $m
  389
  424
  417
  414
  412
  411
  410
  411
  413
  415
  418
  319
  323
  329
  335
  342
  349
  358
  367
  376
  387
  398
  410
  423
  437
  451
  467
  483
  501
  519
  538
Issuance/(repayment) of debt, $m
  -23
  70
  85
  98
  109
  121
  133
  145
  157
  169
  181
  194
  207
  221
  234
  249
  264
  279
  295
  312
  329
  347
  366
  386
  407
  428
  451
  475
  500
  526
  553
Issuance/(repurchase) of shares, $m
  0
  78
  94
  116
  136
  155
  172
  189
  206
  221
  237
  0
  0
  1
  15
  30
  45
  60
  75
  90
  105
  121
  138
  154
  172
  189
  208
  227
  246
  267
  288
Cash from financing (excl. dividends), $m  
  -65
  148
  179
  214
  245
  276
  305
  334
  363
  390
  418
  194
  207
  222
  249
  279
  309
  339
  370
  402
  434
  468
  504
  540
  579
  617
  659
  702
  746
  793
  841
Total cash flow (excl. dividends), $m
  336
  572
  597
  627
  657
  687
  716
  746
  775
  806
  837
  513
  531
  550
  585
  621
  658
  696
  736
  778
  821
  867
  914
  963
  1,015
  1,069
  1,125
  1,185
  1,247
  1,311
  1,379
Retained Cash Flow (-), $m
  775
  -186
  -209
  -239
  -268
  -297
  -326
  -355
  -384
  -414
  -444
  -475
  -507
  -540
  -574
  -609
  -645
  -683
  -722
  -763
  -806
  -850
  -897
  -945
  -996
  -1,049
  -1,104
  -1,162
  -1,223
  -1,287
  -1,353
Prev. year cash balance distribution, $m
 
  1,913
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  2,299
  388
  388
  389
  390
  390
  391
  391
  392
  392
  38
  24
  10
  11
  12
  12
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  24
  25
  26
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  2,204
  355
  338
  320
  302
  283
  264
  245
  225
  206
  18
  10
  4
  4
  3
  3
  3
  3
  2
  2
  2
  1
  1
  1
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  98.8
  97.4
  95.8
  93.9
  91.9
  89.8
  87.6
  85.3
  83.0
  80.8
  80.8
  80.8
  80.7
  80.6
  80.4
  80.0
  79.6
  79.1
  78.5
  77.9
  77.2
  76.4
  75.6
  74.8
  73.9
  73.0
  72.1
  71.1
  70.1
  69.1

News Corporation is a global diversified media and information services company focused on creating and distributing content to consumers and businesses throughout the world. The Company's operations are organized into five segments: News and Information Services; Book Publishing; Digital Real Estate Services; Cable Network Programming, and Other. The Company's News and Information Services segment consists primarily of Dow Jones, News Corp Australia (which includes News Limited and its subsidiaries), News UK, the New York Post and News America Marketing. Its Book Publishing segment consists of HarperCollins Publishers (together with its subsidiaries and affiliates, HarperCollins), which is a consumer book publisher. Its Digital Real Estate Services segment consists of its interest in REA Group Limited (REA Group), and its interest in Move, Inc. (Move). The Company's Cable Network Programming segment consists of FOX SPORTS Australia, a sports programming provider in Australia. _tck('aft');

FINANCIAL RATIOS  of  News Corp Cl A (NWSA)

Valuation Ratios
P/E Ratio -10.3
Price to Sales 0.9
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow 15.4
Price to Free Cash Flow 32
Growth Rates
Sales Growth Rate -1.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -6.5%
Financial Strength
Quick Ratio 20
Current Ratio 0
LT Debt to Equity 2.6%
Total Debt to Equity 3.5%
Interest Coverage 0
Management Effectiveness
Return On Assets -4.9%
Ret/ On Assets - 3 Yr. Avg. -1.6%
Return On Total Capital -6.4%
Ret/ On T. Cap. - 3 Yr. Avg. -2%
Return On Equity -6.6%
Return On Equity - 3 Yr. Avg. -2.1%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 44.4%
Gross Margin - 3 Yr. Avg. 43.1%
EBITDA Margin -2%
EBITDA Margin - 3 Yr. Avg. 6.2%
Operating Margin -7.6%
Oper. Margin - 3 Yr. Avg. 0.3%
Pre-Tax Margin -7.6%
Pre-Tax Margin - 3 Yr. Avg. 0.4%
Net Profit Margin -9.1%
Net Profit Margin - 3 Yr. Avg. -2.9%
Effective Tax Rate -4.6%
Eff/ Tax Rate - 3 Yr. Avg. -0.3%
Payout Ratio -20.6%

NWSA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NWSA stock intrinsic value calculation we used $8139 million for the last fiscal year's total revenue generated by News Corp Cl A. The default revenue input number comes from 2017 income statement of News Corp Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NWSA stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NWSA is calculated based on our internal credit rating of News Corp Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of News Corp Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NWSA stock the variable cost ratio is equal to 98.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NWSA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for News Corp Cl A.

Corporate tax rate of 27% is the nominal tax rate for News Corp Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NWSA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NWSA are equal to 52.3%.

Life of production assets of 17.9 years is the average useful life of capital assets used in News Corp Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NWSA is equal to -6.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $10809 million for News Corp Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 596.87 million for News Corp Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of News Corp Cl A at the current share price and the inputted number of shares is $7.8 billion.

RELATED COMPANIES Price Int.Val. Rating
CBS CBS Cl B 58.23 67.95  hold
NYT New York Times 19.20 14.94  hold
TGNA TEGNA 12.26 34.95  str.buy
DIS Walt Disney 98.52 103.16  hold
BKS Barnes&Noble 7.15 5.33  sell
AMZN Amazon.com 986.79 538.53  sell
NEWM New Media Inve 13.82 17.29  buy
TRNC tronc 13.21 5.79  str.sell
LEE Lee Enterprise 2.10 1.90  hold

COMPANY NEWS

▶ Move, Inc. Launches Realsuite(SM) Brand and Beta Test   [Sep-19-17 09:00AM  PR Newswire]
▶ Daniel Bernard named Barrons senior vice president   [Sep-14-17 11:33AM  MarketWatch]
▶ State Street votes against Murdochs for Fox, News Corp. boards   [10:30AM  American City Business Journals]
▶ Publisher Tronc acquires Daily News, storied NY tabloid   [Sep-04-17 11:52PM  Associated Press]
▶ [$$] 21st Century Fox Pulls Plug on Fox News in the U.K.   [Aug-30-17 01:39AM  The Wall Street Journal]
▶ [$$] 21st Century Fox Pulls Plug on Fox News in the U.K.   [Aug-29-17 03:41PM  The Wall Street Journal]
▶ [$$] CBS to buy Australia's Ten Network in overseas push   [Aug-27-17 10:38PM  Financial Times]
▶ [$$] Foxtel, Fox Sports Australia to Merge   [12:17AM  The Wall Street Journal]
▶ [$$] Foxtel, Fox Sports Australia to Merge   [Aug-17-17 08:30PM  The Wall Street Journal]
▶ More Consumer Sector Earnings Results for August 711, 2017   [Aug-14-17 01:41PM  Market Realist]
▶ Key Takeaways From News Corp's Q4 Earnings   [Aug-11-17 03:09PM  Forbes]
▶ O'Reilly attempts to spin a comeback with new online show   [02:10PM  American City Business Journals]
▶ [$$] News Corp Reports Loss on Write-Down of U.K. Assets   [12:48AM  The Wall Street Journal]
▶ News Corp. reports 4Q loss   [Aug-10-17 10:31PM  Associated Press]
▶ News Corp. reports 4Q loss   [09:55PM  Associated Press]
▶ [$$] News Corp Reports Loss on Write-Down of U.K. Assets   [07:19PM  The Wall Street Journal]
▶ The week ahead: 5 things to watch on the economic calendar   [Aug-06-17 07:16AM  Investing.com]
▶ Fox News slapped with lawsuit regarding coverage of DNC staffer's death   [Aug-01-17 03:20PM  American City Business Journals]
▶ Why Mario Gabelli Is Optimistic about Multimedia Stocks   [Jul-26-17 09:11AM  Market Realist]
▶ PRESS DIGEST - Wall Street Journal - July 17   [Jul-17-17 12:55AM  Reuters]
▶ Wall Street Journal adds top jobs in digital push   [Jul-12-17 05:12PM  Reuters]
▶ [$$] Bertelsmann Tightens Control Over Penguin Random House   [12:41AM  The Wall Street Journal]
▶ [$$] Bertelsmann Makes Big Bet on the Old-Fashioned Book   [Jul-11-17 02:25PM  The Wall Street Journal]
▶ News Corp. Value Analysis (NASDAQ:NWSA) : July 10, 2017   [Jul-10-17 04:21PM  Capital Cube]
▶ Newspapers Seek Congress' Help In Dealing With Facebook, Google   [Jul-09-17 07:48PM  Investor's Business Daily]
▶ [$$] Wall Street Journal to cut back print outside the US   [Jun-30-17 12:22AM  Financial Times]
▶ [$$] How Fox's bid for Sky came under scrutiny   [Jun-29-17 01:48PM  Financial Times]
▶ Facebook Subscriptions Coming?   [Jun-21-17 04:34PM  TheStreet.com]
Financial statements of NWSA
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.