Janney Montgomery Scott LLC has increased its stake in News Co. (NASDAQ:NWSA). News Corp's continuous $1 billion stock buyback program is ongoing. A transcript revealed insights into News Corp's Q3 2024 earnings call. The stock of News Corp's class A is outpacing competitors on a busy trading day, with a multiyear deal with OpenAI contributing to a spike in shares. Reports suggest that activist investor is contemplating changes, and tangible steps are being taken to challenge the current arrangements at News Corp. Other investors, such as BI Asset Management and BNP Paribas, are also growing their News Corp holdings.
On the other hand, News Corp faces criticism for not fully meeting market performance, even as it pursues its repurchase program. Prominent stakeholder Starboard is advocating for the separation of real estate assets from WSJ owner News Corp, a standpoint which has pressurised other significant shareholders - like Kapitalo Investimentos and Goldman Sachs - to offload their shares. Rupert Murdoch's decision to step down, both from Fox and News Corp, added another factor into the mix.
Despite facing some challenges, News Corp secured a landmark multi-year global partnership with OpenAI, making the firm attractive for potential investors. Finally, other media firms are on the radar for significant growth, while News Corp itself is reconceived as a 'compelling entry point'.
News Corporation Class A NWSA News Analytics from Fri, 28 Jun 2013 07:00:00 GMT to Sun, 14 Jul 2024 09:40:46 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor -5
