Company Of The Day: News Corp
What?
News Corp (NYSE:NWSA) confirmed that it was looking to merge with Fox, recombining after close to a decade as separate companies.
Why?
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The companies are likely looking to gain scale in an increasingly competitive media business.
So What?
While Newscorp stock was up by almost 3% in trading on Monday, Fox shareholders do not appear very enthusiastic about the deal, with the stock down 8%.
See Our Complete Analysis For News Corp
Returns | Oct 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
NWSA Return | 7% | -28% | 41% |
S&P 500 Return | 3% | -23% | 64% |
Trefis Multi-Strategy Portfolio | 2% | -25% | 196% |
[1] Month-to-date and year-to-date as of 10/18/2022
[2] Cumulative total returns since the end of 2016
See all Trefis Price Estimates