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News Corp B NWS

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Morningstar’s Analysis

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Digitally Endowed News Unveils Another Moving Result

Brian Han Senior Equity Analyst

Analyst Note

| Brian Han |

We lift our fair value estimate on News Corporation by 7% to USD 16.00 per share (AUD 20.50 at the current exchange rate), post the 22% jump in fiscal 2021 third-quarter normalised EBITDA to USD 301 million. The upgrade reflects an average 7% increase in our group earnings forecasts, mainly due to our higher expectations for Dow Jones and digital real estate services.

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Company Profile

Business Description

News Corporation is a media conglomerate with large presence in the U.S, the U.K., and Australia. Key brands include The Wall Street Journal, Herald Sun, and The Times. The company also has a strong presence in the Australian pay-TV market through Fox Sports and Foxtel (both 65%-owned), while its 62%-owned REA Group is the dominant real estate classified business in Australia. In addition, it owns HarperCollins, one of the largest book publishers globally, and also has a substantial digital property advertising business (Move) in the U.S.

1211 Avenue of the Americas
New York, NY, 10036
T +1 212 416-3400
Sector Communication Services
Industry Broadcasting
Most Recent Earnings Dec 31, 2020
Fiscal Year End Jun 30, 2021
Stock Type Classic Growth
Employees 23,500