News Corporation - NWSA STOCK NEWS

Emma Tucker has been appointed as the next Editor-in-Chief of The Wall Street Journal and Dow Jones Newswires, effective February 1, 2023. She succeeds Matt Murray, who transitions to a new role at News Corp on March 1, 2023. Under Murray's leadership since 2018, digital subscriptions nearly doubled to 3.2 million, while the Journal won multiple prestigious awards. Tucker's previous role as editor of The Sunday Times saw similar growth, with digital subscriptions increasing by over 40% since 2019. The transition has been unanimously approved by the Dow Jones Special Committee.

The 2023 Top Housing Markets forecast from Realtor.com identifies Hartford-West Hartford, Conn., and El Paso, Texas, as prime areas for home price appreciation and sales growth. These regions are projected to see home sales grow by 5.2% and a 7.3% increase in average home prices, despite a national decline in sales. The markets boast better affordability, with 23% of inventory affordable at the median income, compared to 17% nationally. Factors like a focus on domestic industries and high demand from out-of-state buyers enhance their attractiveness.

News Corporation's Special Committee, comprising independent directors, is reviewing a potential transaction with Fox Corporation following inquiries from K. Rupert Murdoch and the Murdoch Family Trust. The committee is tasked with evaluating the proposal and has retained PJT Partners and Sullivan & Cromwell LLP as advisors. It is noted that any transaction will require approval from non-affiliated stockholders, and no determination has been made yet regarding the proposed combination. Updates will be provided as deemed necessary.

The Realtor.com® 2023 Housing Forecast highlights a challenging year for homebuyers amid ongoing inflation and rising mortgage rates, projected at an average of 7.4%. Home sales prices are expected to rise by 5.4%, while sales are forecasted to decline by 14.1% to 4.53 million, the lowest since 2012. Existing home inventory is anticipated to increase by 22.8%. Despite higher costs, the typical homeowner is expected to gain approximately $25,650 in equity. Overall, buyers should prepare for a slower-paced market as affordability remains a primary concern.

According to the October Rental Report from Realtor.com®, rent growth has slowed to 4.7% year-over-year, the lowest in 18 months, with the median U.S. rent at $1,734. Despite this relief, nearly 70% of renters are considering moving for more affordable options. While most landlords are poised to increase rents within the next year, the rate of increases is decreasing. The report highlights ongoing affordability challenges amid high inflation, with renters saving a mere $100 monthly, impacting their ability to consider home purchases.

New data from Realtor.com reveals a shifting trend in homebuyer preferences, with a noticeable preference for homes with lower climate risks such as flooding and wildfires. Homes at low flood risk appreciate 1.5 percentage points faster than those at high risk. This gap widened to 1.7 points during the last flood season. Wildfire risk sees an even greater appreciation difference of 3.7 points. Also, 71% of recent homebuyers are considering natural disaster risks when relocating, indicating a growing awareness of environmental factors influencing home values.

News Corporation reported fiscal 2023 first-quarter revenues of $2.48 billion, down 1% from $2.50 billion last year, influenced by $153 million in foreign currency losses. Net income plummeted 75% to $66 million, while Total Segment EBITDA fell 15% to $350 million. Dow Jones segment revenues surged 16% to $515 million, driven by strong digital subscriptions and acquisitions. Adjusted revenues rose 3%, with adjusted EPS at $0.12, down from $0.23. The company is actively exploring a potential merger with Fox Corporation, signaling ongoing strategic evaluations.

Realtor.com®'s new study reveals that only 40% of newly licensed real estate agents are confident in pursuing a long-term career in the industry. The survey of over 2,000 agents highlights challenges such as lead generation and knowledge gaps. Successful agents often work full-time, utilize mentorship, and spend considerably on marketing. Key findings indicate that experienced agents face dual challenges of competition and lead quality. With 60% of all agents struggling to find new leads, the need for effective networking and marketing strategies is critical for agent success.