Intrinsic value of News Corp Cl A - NWSA

Previous Close

$12.73

  Intrinsic Value

$8.84

stock screener

  Rating & Target

sell

-31%

Previous close

$12.73

 
Intrinsic value

$8.84

 
Up/down potential

-31%

 
Rating

sell

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 0001), $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 4.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.43
  5.38
  5.34
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
  5.16
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
Revenue, $m
  8,611
  9,104
  9,618
  10,155
  10,716
  11,302
  11,915
  12,557
  13,228
  13,930
  14,666
  15,436
  16,242
  17,087
  17,973
  18,901
  19,874
  20,895
  21,965
  23,087
  24,263
  25,498
  26,793
  28,151
  29,577
  31,073
  32,642
  34,290
  36,018
  37,833
Variable operating expenses, $m
  8,317
  8,758
  9,218
  9,699
  10,201
  10,725
  11,274
  11,848
  12,448
  13,077
  13,123
  13,812
  14,534
  15,290
  16,083
  16,913
  17,784
  18,697
  19,654
  20,658
  21,711
  22,816
  23,975
  25,190
  26,466
  27,804
  29,209
  30,683
  32,230
  33,854
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
  8,317
  8,758
  9,218
  9,699
  10,201
  10,725
  11,274
  11,848
  12,448
  13,077
  13,123
  13,812
  14,534
  15,290
  16,083
  16,913
  17,784
  18,697
  19,654
  20,658
  21,711
  22,816
  23,975
  25,190
  26,466
  27,804
  29,209
  30,683
  32,230
  33,854
Operating income, $m
  294
  346
  400
  456
  515
  577
  641
  709
  779
  853
  1,543
  1,624
  1,708
  1,797
  1,890
  1,988
  2,090
  2,198
  2,310
  2,428
  2,552
  2,682
  2,818
  2,961
  3,111
  3,268
  3,433
  3,607
  3,788
  3,979
EBITDA, $m
  1,203
  1,271
  1,343
  1,418
  1,496
  1,578
  1,664
  1,754
  1,847
  1,945
  2,048
  2,156
  2,268
  2,386
  2,510
  2,640
  2,775
  2,918
  3,067
  3,224
  3,388
  3,561
  3,742
  3,931
  4,130
  4,339
  4,559
  4,789
  5,030
  5,283
Interest expense (income), $m
  0
  33
  61
  88
  117
  147
  179
  212
  246
  282
  320
  359
  400
  443
  489
  536
  586
  638
  692
  749
  809
  872
  938
  1,008
  1,080
  1,156
  1,236
  1,320
  1,408
  1,500
  1,597
Earnings before tax, $m
  260
  285
  311
  339
  368
  398
  430
  463
  497
  534
  1,184
  1,223
  1,265
  1,309
  1,354
  1,402
  1,453
  1,505
  1,561
  1,619
  1,680
  1,744
  1,811
  1,881
  1,955
  2,032
  2,113
  2,199
  2,288
  2,382
Tax expense, $m
  70
  77
  84
  92
  99
  107
  116
  125
  134
  144
  320
  330
  342
  353
  366
  379
  392
  406
  421
  437
  454
  471
  489
  508
  528
  549
  571
  594
  618
  643
Net income, $m
  190
  208
  227
  247
  269
  291
  314
  338
  363
  390
  864
  893
  923
  955
  989
  1,024
  1,060
  1,099
  1,139
  1,182
  1,226
  1,273
  1,322
  1,373
  1,427
  1,483
  1,543
  1,605
  1,670
  1,739

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  15,404
  16,286
  17,205
  18,166
  19,170
  20,219
  21,316
  22,463
  23,663
  24,920
  26,235
  27,613
  29,056
  30,568
  32,152
  33,813
  35,554
  37,379
  39,293
  41,300
  43,405
  45,613
  47,930
  50,360
  52,910
  55,586
  58,394
  61,341
  64,434
  67,680
Adjusted assets (=assets-cash), $m
  15,404
  16,286
  17,205
  18,166
  19,170
  20,219
  21,316
  22,463
  23,663
  24,920
  26,235
  27,613
  29,056
  30,568
  32,152
  33,813
  35,554
  37,379
  39,293
  41,300
  43,405
  45,613
  47,930
  50,360
  52,910
  55,586
  58,394
  61,341
  64,434
  67,680
Revenue / Adjusted assets
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
  0.559
Average production assets, $m
  5,313
  5,617
  5,934
  6,265
  6,612
  6,973
  7,352
  7,748
  8,162
  8,595
  9,049
  9,524
  10,022
  10,543
  11,089
  11,662
  12,263
  12,892
  13,552
  14,244
  14,970
  15,732
  16,531
  17,369
  18,249
  19,172
  20,140
  21,157
  22,223
  23,343
Working capital, $m
  -689
  -728
  -769
  -812
  -857
  -904
  -953
  -1,005
  -1,058
  -1,114
  -1,173
  -1,235
  -1,299
  -1,367
  -1,438
  -1,512
  -1,590
  -1,672
  -1,757
  -1,847
  -1,941
  -2,040
  -2,143
  -2,252
  -2,366
  -2,486
  -2,611
  -2,743
  -2,881
  -3,027
Total debt, $m
  503
  731
  969
  1,218
  1,478
  1,750
  2,034
  2,331
  2,642
  2,967
  3,308
  3,665
  4,039
  4,430
  4,840
  5,271
  5,721
  6,194
  6,690
  7,210
  7,755
  8,327
  8,927
  9,556
  10,217
  10,910
  11,637
  12,400
  13,201
  14,042
Total liabilities, $m
  3,990
  4,218
  4,456
  4,705
  4,965
  5,237
  5,521
  5,818
  6,129
  6,454
  6,795
  7,152
  7,526
  7,917
  8,327
  8,758
  9,208
  9,681
  10,177
  10,697
  11,242
  11,814
  12,414
  13,043
  13,704
  14,397
  15,124
  15,887
  16,688
  17,529
Total equity, $m
  11,415
  12,068
  12,749
  13,461
  14,205
  14,982
  15,795
  16,645
  17,535
  18,466
  19,440
  20,461
  21,531
  22,651
  23,825
  25,055
  26,345
  27,698
  29,116
  30,603
  32,163
  33,799
  35,516
  37,317
  39,206
  41,189
  43,270
  45,454
  47,745
  50,151
Total liabilities and equity, $m
  15,405
  16,286
  17,205
  18,166
  19,170
  20,219
  21,316
  22,463
  23,664
  24,920
  26,235
  27,613
  29,057
  30,568
  32,152
  33,813
  35,553
  37,379
  39,293
  41,300
  43,405
  45,613
  47,930
  50,360
  52,910
  55,586
  58,394
  61,341
  64,433
  67,680
Debt-to-equity ratio
  0.040
  0.060
  0.080
  0.090
  0.100
  0.120
  0.130
  0.140
  0.150
  0.160
  0.170
  0.180
  0.190
  0.200
  0.200
  0.210
  0.220
  0.220
  0.230
  0.240
  0.240
  0.250
  0.250
  0.260
  0.260
  0.260
  0.270
  0.270
  0.280
  0.280
Adjusted equity ratio
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741
  0.741

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  190
  208
  227
  247
  269
  291
  314
  338
  363
  390
  864
  893
  923
  955
  989
  1,024
  1,060
  1,099
  1,139
  1,182
  1,226
  1,273
  1,322
  1,373
  1,427
  1,483
  1,543
  1,605
  1,670
  1,739
Depreciation, amort., depletion, $m
  909
  926
  943
  962
  981
  1,001
  1,023
  1,045
  1,068
  1,092
  506
  532
  560
  589
  620
  652
  685
  720
  757
  796
  836
  879
  924
  970
  1,019
  1,071
  1,125
  1,182
  1,242
  1,304
Funds from operations, $m
  1,099
  1,134
  1,171
  1,209
  1,250
  1,292
  1,336
  1,383
  1,431
  1,482
  1,369
  1,425
  1,483
  1,544
  1,608
  1,675
  1,746
  1,819
  1,896
  1,978
  2,063
  2,152
  2,245
  2,343
  2,446
  2,554
  2,668
  2,787
  2,912
  3,043
Change in working capital, $m
  -38
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -68
  -71
  -74
  -78
  -82
  -86
  -90
  -94
  -99
  -104
  -109
  -114
  -120
  -126
  -132
  -138
  -145
Cash from operations, $m
  1,137
  1,173
  1,212
  1,252
  1,295
  1,339
  1,385
  1,434
  1,485
  1,538
  1,428
  1,487
  1,548
  1,612
  1,679
  1,750
  1,823
  1,901
  1,982
  2,067
  2,157
  2,250
  2,349
  2,452
  2,560
  2,674
  2,793
  2,919
  3,050
  3,188
Maintenance CAPEX, $m
  -281
  -297
  -314
  -332
  -350
  -369
  -390
  -411
  -433
  -456
  -480
  -506
  -532
  -560
  -589
  -620
  -652
  -685
  -720
  -757
  -796
  -836
  -879
  -924
  -970
  -1,019
  -1,071
  -1,125
  -1,182
  -1,242
New CAPEX, $m
  -289
  -304
  -317
  -331
  -346
  -362
  -378
  -396
  -414
  -433
  -454
  -475
  -498
  -521
  -546
  -573
  -600
  -629
  -660
  -692
  -726
  -762
  -799
  -838
  -880
  -923
  -969
  -1,016
  -1,067
  -1,120
Cash from investing activities, $m
  -570
  -601
  -631
  -663
  -696
  -731
  -768
  -807
  -847
  -889
  -934
  -981
  -1,030
  -1,081
  -1,135
  -1,193
  -1,252
  -1,314
  -1,380
  -1,449
  -1,522
  -1,598
  -1,678
  -1,762
  -1,850
  -1,942
  -2,040
  -2,141
  -2,249
  -2,362
Free cash flow, $m
  567
  572
  581
  589
  598
  608
  617
  627
  638
  648
  494
  506
  518
  531
  544
  557
  571
  586
  602
  618
  635
  652
  671
  690
  710
  732
  754
  777
  801
  827
Issuance/(repayment) of debt, $m
  227
  228
  238
  249
  260
  272
  284
  297
  311
  325
  341
  357
  374
  392
  410
  430
  451
  473
  496
  520
  545
  572
  600
  629
  660
  693
  727
  763
  801
  841
Issuance/(repurchase) of shares, $m
  436
  445
  454
  464
  475
  487
  499
  512
  526
  542
  111
  128
  146
  165
  185
  207
  229
  253
  279
  306
  334
  364
  395
  428
  463
  499
  538
  579
  621
  666
Cash from financing (excl. dividends), $m  
  663
  673
  692
  713
  735
  759
  783
  809
  837
  867
  452
  485
  520
  557
  595
  637
  680
  726
  775
  826
  879
  936
  995
  1,057
  1,123
  1,192
  1,265
  1,342
  1,422
  1,507
Total cash flow (excl. dividends), $m
  1,230
  1,246
  1,273
  1,303
  1,334
  1,366
  1,401
  1,437
  1,475
  1,515
  946
  991
  1,038
  1,087
  1,139
  1,194
  1,252
  1,312
  1,376
  1,443
  1,514
  1,588
  1,666
  1,748
  1,834
  1,924
  2,019
  2,119
  2,224
  2,334
Retained Cash Flow (-), $m
  -626
  -653
  -682
  -712
  -744
  -777
  -813
  -850
  -890
  -931
  -975
  -1,021
  -1,069
  -1,120
  -1,174
  -1,230
  -1,290
  -1,352
  -1,418
  -1,487
  -1,560
  -1,636
  -1,717
  -1,801
  -1,890
  -1,983
  -2,081
  -2,184
  -2,292
  -2,405
Prev. year cash balance distribution, $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 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
  604
  593
  592
  591
  590
  589
  588
  587
  586
  584
  -29
  -30
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -59
  -62
  -65
  -68
  -71
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
  579
  542
  515
  487
  457
  427
  397
  367
  336
  306
  -14
  -13
  -12
  -11
  -10
  -9
  -8
  -7
  -6
  -6
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
  -1
Current shareholders' claim on cash, %
  94.5
  89.6
  85.0
  80.8
  76.9
  73.3
  70.0
  66.9
  64.0
  61.3
  60.8
  60.2
  59.6
  59.0
  58.3
  57.6
  56.8
  56.0
  55.2
  54.4
  53.6
  52.7
  51.9
  51.0
  50.1
  49.2
  48.3
  47.4
  46.5
  45.6

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
Price to Sales 0.9
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow 15
Price to Free Cash Flow 31.1
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 0001 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 5.8% 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 97%.

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 12.1% 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 61.7%.

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 -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 - $10789 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 383.268 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 $4.9 billion.

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COMPANY NEWS

▶ 8 Stocks With High Sharpe Ratios to Stomach Volatility   [Dec-12-18 02:06PM  Investopedia]
▶ Hedge Funds Are Buying News Corp NWSA)   [02:19AM  Insider Monkey]
▶ 5 Entertainment Companies Gurus Agree On   [Dec-05-18 04:51PM  GuruFocus.com]
▶ November housing market is a 'Tale of Two Markets'   [Nov-30-18 09:00AM  PR Newswire]
▶ Australia's REA Group says CEO to step down   [Nov-14-18 04:55PM  Reuters]
▶ [$$] Snap hit by departure of another key executive   [Nov-12-18 02:02AM  Financial Times]
▶ [$$] News Corps Revenue, Profit Rise   [Nov-07-18 10:53PM  The Wall Street Journal]
▶ [$$] News Corp's Revenue, Profit Rise   [06:56PM  The Wall Street Journal]
▶ News Corp.: Fiscal 1Q Earnings Snapshot   [04:57PM  Associated Press]
▶ Hotchkis & Wiley Comments on News Corp   [03:42PM  GuruFocus.com]
▶ Zealous Gen Z: Saving Early To Be Homeowners By Age 25   [Nov-01-18 09:02AM  PR Newswire]
▶ News Corp to Report Fiscal 2019 First Quarter Earnings   [Oct-29-18 10:14AM  Business Wire]
▶ [$$] FirstFT: Todays top stories   [08:04AM  Financial Times]
▶ News Corp Completes Acquisition of Opcity   [Oct-11-18 04:05PM  Business Wire]
▶ [$$] Australias culture wars threaten its public institutions   [Sep-28-18 06:00AM  Financial Times]
▶ Australian broadcaster's chairman quits over politics claims   [Sep-27-18 12:44AM  Associated Press]
▶ [$$] Head of Australian state broadcaster dismissed   [Sep-24-18 05:45AM  Financial Times]
▶ Luxury Market Picks Up Speed   [Sep-19-18 09:00AM  PR Newswire]
▶ [$$] News Corp to Acquire Opcity for $210 Million   [06:38AM  The Wall Street Journal]
▶ News Corp Agrees to Acquire Opcity   [04:30PM  Business Wire]
▶ Atlanta law firm adds Georgia Technology hall of famer as 'entrepreneur in residence'   [Aug-27-18 02:33PM  American City Business Journals]
▶ The Midwest Dominates July's Hottest Housing Markets   [Aug-16-18 09:00AM  PR Newswire]
▶ [$$] Australia should celebrate not fear its immigrants   [Aug-14-18 07:15AM  Financial Times]
▶ Why News Corp. Stock Fell 10% Today   [12:14PM  Motley Fool]
▶ Yahoo Finance Live: Market Movers - Aug 10th, 2018   [07:20AM  Yahoo Finance Video]
▶ [$$] News Corps Revenue Climbs 29%   [Aug-09-18 07:45PM  The Wall Street Journal]
▶ [$$] News Corp's Revenue Climbs 29%   [06:45PM  The Wall Street Journal]
▶ News Corp.: Fiscal 4Q Earnings Snapshot   [04:48PM  Associated Press]
▶ News Corp revenue rises 30 percent   [04:21PM  Reuters]

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