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News Corp Boosts Digital Presence, Buys Wireless Group
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News Corporation (NWSA - Free Report) is continuing with its expansion strategy by making significant investment moves. The company, which split from Twenty-First Century Fox, Inc. (FOXA - Free Report) , has been diversifying its revenue streams and attempting to enhance its digital capabilities globally. This is clearly evident from the company’s recent decision to acquire UK radio broadcaster Wireless Group for £220.3 million ($296 million). Wireless Group is the owner of the talkSPORT which is a sports radio station as well as global audio partner of the English Premier League (EPL).
The print media is on a decline and to counter this company has been enhancing its digital capabilities globally.
News Corp said that the acquisition of Wireless Group “represents an excellent strategic fit with its existing operations, broadening News Corp’s range of services in the U.K., Ireland and internationally.”
This acquisition is very important for News Corporation as this will help in enhancing its digital services. Previously, the company’s digital real estate services company, REA acquired the remaining stake in iProperty Group, which has online property advertising operations in Malaysia, Indonesia, Hong Kong, Macau and Singapore with investments in the Philippines and India. News Corporation is entering into partnerships with real estate sites in China and Hong Kong. The company also acquired Move, one of the leading providers of online real estate services, for $950 million. Move now forms part of Digital Real Estate Services segment.
News Corporation, which offers e-books for devices sold by Amazon.com Inc. (AMZN - Free Report) and Apple Inc. (AAPL - Free Report) , had earlier raised its stake in APN News and Media Limited, an Australian media company, to 14.99%; acquired BigDecisions.Com, the provider of financial decision-making tools; and invested in PropTiger.com, to tap the burgeoning residential real estate market in India.
The Zacks rank #3 (Hold) company’s diverse revenue streams hedge it against economic cycles. The company derives revenues from subscriptions, copy circulation, licensing and affiliate fees, direct sales, and advertising and sponsorships.
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News Corp Boosts Digital Presence, Buys Wireless Group
News Corporation (NWSA - Free Report) is continuing with its expansion strategy by making significant investment moves. The company, which split from Twenty-First Century Fox, Inc. (FOXA - Free Report) , has been diversifying its revenue streams and attempting to enhance its digital capabilities globally. This is clearly evident from the company’s recent decision to acquire UK radio broadcaster Wireless Group for £220.3 million ($296 million). Wireless Group is the owner of the talkSPORT which is a sports radio station as well as global audio partner of the English Premier League (EPL).
The print media is on a decline and to counter this company has been enhancing its digital capabilities globally.
News Corp said that the acquisition of Wireless Group “represents an excellent strategic fit with its existing operations, broadening News Corp’s range of services in the U.K., Ireland and internationally.”
This acquisition is very important for News Corporation as this will help in enhancing its digital services. Previously, the company’s digital real estate services company, REA acquired the remaining stake in iProperty Group, which has online property advertising operations in Malaysia, Indonesia, Hong Kong, Macau and Singapore with investments in the Philippines and India. News Corporation is entering into partnerships with real estate sites in China and Hong Kong. The company also acquired Move, one of the leading providers of online real estate services, for $950 million. Move now forms part of Digital Real Estate Services segment.
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News Corporation, which offers e-books for devices sold by Amazon.com Inc. (AMZN - Free Report) and Apple Inc. (AAPL - Free Report) , had earlier raised its stake in APN News and Media Limited, an Australian media company, to 14.99%; acquired BigDecisions.Com, the provider of financial decision-making tools; and invested in PropTiger.com, to tap the burgeoning residential real estate market in India.
The Zacks rank #3 (Hold) company’s diverse revenue streams hedge it against economic cycles. The company derives revenues from subscriptions, copy circulation, licensing and affiliate fees, direct sales, and advertising and sponsorships.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>