News Corp - NWSA STOCK NEWS

News Corp has successfully completed the acquisition of Oil Price Information Service (OPIS) for $1.150 billion, strengthening its Dow Jones division in the energy and commodities sectors. This deal is expected to yield an estimated tax benefit of $180 million. OPIS provides critical data and insights within the oil and gas industries, enhancing Dow Jones' offerings in renewables and carbon benchmarking. The acquisition aligns with News Corp's strategy to invest in premium data analytics and expand its market presence.

New data from Realtor.com's Monthly Rental Report indicates that renting is becoming increasingly expensive, with a 19.8% year-over-year increase in the U.S. median rental price to $1,789 in January. In contrast, in 26 of the 50 largest metros, the monthly cost of buying a starter home is 20.6% lower than renting. Birmingham, Cleveland, and Pittsburgh lead in affordability for first-time buyers. However, rising mortgage rates and limited inventory in competitive housing markets continue to challenge potential buyers.

News Corporation (NWS, NWSA) announced a private offering of $500 million in Senior Notes due 2032, with a 5.125% interest rate payable semi-annually. The sale, set to close on February 11, 2022, aims to fund acquisitions of Base Chemicals and Oil Price Information Service from S&P Global and IHS Markit. The offering is made under the Securities Act exemptions for qualified institutional buyers and non-U.S. persons. The Notes will not be registered under the Securities Act, restricting sales within the U.S.

News Corporation has announced a private offering of $500 million aggregate principal amount of Senior Notes due 2032. The proceeds will mainly be used for general corporate purposes, including acquisitions of the Base Chemicals and Oil Price Information Service businesses from S&P Global Inc. and IHS Markit Ltd. This offering will be conducted under exemptions of the Securities Act of 1933, aimed at qualified institutional buyers and non-U.S. persons. The Notes will not be registered under the Securities Act.

In January 2022, the U.S. housing market experienced its fastest-selling month on record, with homes selling in an average of 61 days, a decrease of 10 days from January 2021. Active listings dropped by 28.4% year-over-year, continuing a four-month trend of declining inventory. Despite rising buyer activity, new listings fell by 9.1%, indicating seller hesitation due to factors like Omicron uncertainties. The median listing price reached $375,000, up 10.3% year-over-year, fueled by strong demand amid limited supply.

News Corporation reported fiscal 2022 second quarter revenues of $2.72 billion, a 13% increase from the previous year, marking the highest quarterly revenue since separation. Net income was $262 million, stable compared to last year, while Total Segment EBITDA rose 18% to $586 million. Digital Real Estate Services revenues grew 35%, and Foxtel streaming subscribers increased by 66%. The company announced a $0.10 dividend per share and plans to bolster the Dow Jones business with recent acquisitions.

According to the Realtor.com® Monthly Rental Report, national rents in 2021 grew an average of 10.1%, significantly outpacing the 1.9% increase seen in 2020. December marked the sixth consecutive month of double-digit yearly rent hikes, with Miami, Tampa, and Orlando leading the surge, each experiencing over 34% growth. The median rental price reached $1,781, a 19.3% year-over-year increase. While monthly growth decelerated in December, the trend suggests rising rental costs will challenge affordability in 2022 as more renters consider transitioning to homeownership.