News Corp - NWSA STOCK NEWS

News Corp announced significant growth targets for REA Group, aiming for double-digit revenue and EBITDA growth driven by enhanced products and services. The company showcased its leadership with Realestate.com.au, achieving 127 million average monthly visits and highlighted new initiatives like Premiere+ in residential marketing. REA targets leadership in property data and financial services sectors, particularly in India. The Digital Real Estate Services segment generated $1.3 billion, up 32% year-over-year, contributing 33% to News Corp's EBITDA.

In May 2022, the U.S. housing market showed signs of recovery, with active inventory increasing by 8.0% year-over-year for the first time since June 2019. However, the median national home price surged to a record $447,000, reflecting a 17.6% rise compared to last year. Despite the uptick in inventory, homes sold more quickly, with the average time on the market dropping by a week to 31 days. Key contributors to the changing landscape include rising new listings and moderating buyer demand, although the increase in larger homes continues to keep prices high.

News Corp has acquired the Base Chemicals business from S&P Global Market Intelligence for $295 million. This acquisition will enhance the Dow Jones energy, chemicals, and sustainability vertical. Base Chemicals generated $65 million in revenue last fiscal year, primarily from digital and recurring sources. The deal is expected to yield a tax benefit of approximately $46 million over 15 years. This strategic move aims to leverage cross-selling opportunities with existing Dow Jones audiences.

Realtor.com's Avail Quarterly Survey reveals that 66.1% of renters cite rising rents as their primary financial strain, while 76.1% report saving less than last year. In April, the U.S. median rental price reached $1,827, marking a 16.7% increase from 2021, driven by high demand and limited availability. Landlords plan further rent hikes, which may exacerbate affordability challenges. With typical rents expected to exceed $2,000 by August, renters are increasingly considering moves to more affordable options, though choices are limited. Major urban areas, especially in the Sun Belt, saw significant rent increases.

News Corp, represented by CEO Robert Thomson, is set to participate in the MoffettNathanson 9th Annual Media & Communications Summit on May 18, 2022, starting at 3:00 PM EDT. Interested parties can access the live webcast on the News Corp website, with a replay available afterward. News Corp is a diverse global media company engaged in various sectors, including digital real estate, subscription video services, news, and publishing, operating mainly in the U.S., Australia, and U.K..

Realtor.com®, on May 11, 2022, announced a significant expansion of its Seller's Marketplace, now featuring new offerings from Flyhomes, Orchard, Reali, and Swift Home Solutions. The platform has experienced a remarkable growth in user traffic, increasing by over 300% year-over-year. This marketplace allows homeowners to compare various selling options with no upfront cost, enhancing their ability to make informed decisions. With this addition, Realtor.com® solidifies its position as a comprehensive resource for home sellers amidst a competitive market.

In April 2022, the U.S. housing market showed signs of recovery with a minimal decline in active listings of -12.2% year-over-year, the smallest since December 2019. The share of mid-sized homes increased, potentially enhancing options for families looking to upgrade. Despite challenges with high prices and mortgage rates, experts predict possible inventory growth soon. The median home price reached an all-time high of $425,000, up 14.2% year-over-year. However, new listings fell slightly by 0.9%, signaling ongoing market adjustments.

News Corporation reported record financial results for Q3 Fiscal 2022, with revenues of $2.49 billion, a 7% increase year-over-year. Net income rose 8% to $104 million, while Total Segment EBITDA saw a significant 20% increase to $358 million. The earnings per share (EPS) improved to $0.14, compared to $0.13 the previous year. Notable growth was seen in digital subscriptions and advertising revenues, particularly at Dow Jones, which experienced 16% growth and continued gains in digital subscribers, reflecting a shift towards digital transformation.

In Q1 2022, 40.5% of home buyers on Realtor.com® showed interest in out-of-state listings, up from 36.4% in 2021. Top relocation destinations included El Paso, Albuquerque, and Washington, D.C. The shift is attributed to rising affordability concerns and increased remote work flexibility. Despite surging demand, listing prices in many top destinations remain below the national average of $206 per square foot. Notably, McAllen, Texas, offered the most affordable price at $125 per square foot, even as out-of-state interest surged, particularly from northern cities like New York.