Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi, I very much look forward to the Saturday post, as it rounds out the insights for the week. I was wondering about News Corp. You haven’t mentioned it for a longtime, as far as I can tell. I used to own it, but haven’t for a while. What are your thoughts on it?
Good morning Michael,
We’re glad to hear you’re enjoying the Q&A.
Newscorp (NWS) hasn’t been a focus recently as the stock has shifted in and out of the ASX300. The performance of the business and therefore share price has been impressive of late. However, its important to remember the key driver of the share price has been the company’s 62% stake in REA Group which has done incredibly well. The business also owns stakes in Dow Jones, Foxtel, new subscription box Hubbl and other media outlets. Whilst we think NWS has done well to pivot to digital, the earnings mix of the business is too muddled – too many fingers in too many pies in our view!
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