News Corporation - NWSA STOCK NEWS

News Corporation (Nasdaq: NWS, NWSA) reported a strong fiscal Q3 2021, with total revenues of $2.34 billion, up 3% year-over-year. Notably, net income reached $96 million, a significant turnaround from a $1 billion loss in the prior year. The Company highlighted a 23% increase in profitability, driven by growth in Digital Real Estate Services, Dow Jones, and Book Publishing, which collectively saw Segment EBITDA growth of 55%. Furthermore, historic agreements with Google and Facebook are expected to reshape the media landscape positively.

News Corp has completed the acquisition of Investor's Business Daily (IBD) from O'Neil Capital Management. This profitable and rapidly growing financial news business will be operated under Dow Jones, a subsidiary of News Corp. With around 130 employees, IBD is expected to enhance Dow Jones's offerings, leveraging its digital platform that has seen substantial growth in subscriptions and traffic. The acquisition aligns with News Corp's strategy to strengthen its position in the business and finance media sector, providing additional value to readers and investors.

The Paley Center for Media has announced its upcoming event, Pop Culture and the Power of Reality TV with Andy Cohen, in collaboration with The New York Post. Scheduled for May 3 at 10:00 am ET, the discussion will feature influential figures from the reality TV landscape, including Cohen and stars from The Real Housewives of New York City. The event aims to explore the cultural impact of unscripted television. The Real Housewives franchise itself is set to return on May 4 at 9:00 pm on Bravo.

The April 2021 realtor.com® Monthly Housing Trends Report reveals a surge in new sellers, with listings increasing by 32.6% year-over-year. However, total listings are still nearly 26% lower than pre-pandemic levels, exacerbating competition and driving the median U.S. home price up by 17.2% to an all-time high of $375,000.

Homes are selling faster, averaging 43 days on the market, nearly three weeks quicker than typical rates from 2017 to 2019. Despite an expected increase in listings, a significant inventory shortage could keep prices rising, with a predicted peak around July or August 2021.

News Corp will release its third quarter Fiscal 2021 results on May 6, 2021. Chief Executive Robert Thomson and Chief Financial Officer Susan Panuccio will host a conference call with analysts at 5:00 p.m. EDT. A live audio webcast will be accessible on their investor relations page. For those unable to attend live, a replay will be available shortly after the call concludes. News Corp operates in various media sectors, including digital real estate and subscription video services, and is headquartered in New York.

According to realtor.com's analysis, listing a home between April 18-24, 2021, could lead to significantly higher prices and faster sales. Homes listed during this period are projected to sell for an average of 10.4% more than the start of the year and 2% higher than the average week. Buyer interest is expected to be robust, with listings getting 11% more views. Additionally, competition will be lower, potentially translating to faster sales—14.1% quicker than average. Rising mortgage rates and increased inventory later this year could dampen current seller advantages.

The realtor.com® Monthly Rental Report for March 2021 shows a year-over-year rent growth of 1.1% across the top 50 U.S. housing markets, the first increase after eight months of slowdowns. The median rent reached $1,463. However, high-tech areas like San Jose, San Francisco, and Seattle continue to experience rent declines, indicating mixed market conditions. New Orleans led rent increases at 15.6%, while San Jose faced the largest decline at -14.1%. Market analysts suggest a potential shift toward rental demand as home buying becomes more challenging due to rising prices and interest rates.