News Corporation (officially referred and traded as News Corp ) is an American multinational mass media company, formed as a spin-off of the former News Corporation (as established by Rupert Murdoch on 1979) focuses on newspapers and publications. This is one of two companies that replace the former News Corporation, alongside 21st Century Fox - consisting of broadcasters and news media property of the old Corporation, such as Fox Entertainment Group. Spin-out structured so that 21st Century Fox will be the legal successor and continuation of the old News Corporation, with News Corp becoming a new wholly new company formed by stock splitting.
Video News Corp
History
Formation
On June 28, 2012, Rupert Murdoch announced that News Corporation's publishing operations will be split up to form a new publicly traded company. Murdoch stated that this separation would "unlock the true value of both companies and their different assets, allowing investors to benefit from separate strategic opportunities resulting from more focused management of each division." The move also came amid a series of scandals that have damaged the reputation of some property owned by News Corporation. Robert James Thomson, editor of The Wall Street Journal , was announced as chief operating officer for the company; while Murdoch will not serve as CEO, he remains chairman and shareholder of News Corp. Thomson has just pledged that the new company will "cultivate start-up sensitivity even though we've worked for the world's most established and prestigious diversified media and information services company," and will emphasize building new business models around the property and its content. The logo of the new News Corporation was unveiled at the investor presentation on May 28, 2013; handwritten logos using scripts based on Murdoch's own handwriting.
News Corp's board approved the separation on May 24, 2013, while shareholders approved the split on June 11; Initial trading on the Australian Stock Exchange of Class B News Corp shares just started on June 19, 2013, about $ 15 per share; a slightly lower value than some analysts had expected. Stocks fell 3% to $ 14.55 a share, valuing the new firm about $ 7.9 billion. The division of the company was completed on June 28, 2013; during the share-sharing process, one part of the new News Corp was given to shareholders for every four of their shares in the former News Corp. News Corp. is just beginning to trade on the NASDAQ stock exchange with the symbol "NWS" on July 1, 2013; at the same time, the former News Corporation (now purely from media properties, such as Fox Entertainment Group and 20th Century Fox) has been renamed 21st Century Fox.
After splitting
On September 4, 2013, News Corp announced that it would sell Dow Jones Local Media Group, a group of 33 local newspapers, to Newcastle Investment Corp.-- an affiliate of Fortress Investment Group, for $ 87 million. The papers will be operated by GateHouse Media, a Fortress-owned newspaper group. Robert Thomson indicated that newspapers were "inconsistently strategic with the growing portfolio" of the company. GateHouse then filed for bankruptcy Chapter 11 bankruptcy on September 27, 2013, to restructure its debt obligations to accommodate the acquisition. then GateHouse emerged from bankruptcy on 26 November 2013.
On December 20, 2013, News Corp announced the acquisition of Mark Little's Storyful, a news agency specializing in verifying and distributing user-generated content related to news events from social networking services, for $ 25 million, marking the first acquisition by News Corp since the split. Robert Thomson stated that the service has "become a village square for valuable videos, using journalistic sensitivity, integrity and creativity to discover, authenticate and commercialize user-generated content", and that by purchasing News Corp will "determine the chances that the digital landscape presents , not just adjusting to them. "
On May 2, 2014, News Corp. acquired Torlequin Enterprises romance publisher Torstar for $ 415 million. The deal closes on August 1; now operated as a subsidiary of HarperCollins News Corp. On September 30, 2014 News Corp announced the acquisition of Move, Inc., a real estate listing company and owner of Realtor.com. 20% of the shares are owned by REA Group, a subsidiary of News Corp Australia, which is publicly traded.
News Corp also began to make some investments in India, such as investing $ 30 million on the ProTiger real estate website in November 2014, purchasing BigDecisions.com in December 2014, the financial planning website, and the acquisition of Indian media company VCCircle in March 2015.
In October 2015, News Corp sold its digital education brand, Amplify Education, to a management team supported by a group of private investors for an undisclosed amount. In June 2016, News Corp. acquired a group of British radio stations, Wireless Group for $ 296 million
Maps News Corp
Assets
The company mainly consists of former News Corp newspaper and asset book publishing, and includes:
- Dow Jones & amp; The company, the New York City-based financial publisher, and the owners of Wall Street Journal, MarketWatch and Barron,
- News Corp Australia, publisher of Australian newspapers and magazines, and owner of Fox Sports Australia and shares in Foxtel's pay-TV provider and classifies the REA Group company
- UK News, UK newspaper publisher
- New York Post , a daily newspaper in New York City was acquired by Rupert Murdoch in 1976.
- HarperCollins, the ledger trading publisher
- News America Marketing, advertising distributor and coupon promotion
- Wireless Group, British radio station group
See also
- 21st Century Fox
References
External links
- Official website
Source of the article : Wikipedia
0 Comments