In a series of market updates, News Corp has announced a hefty $1 billion stock buy-back program, causing mixed reactions in the market. On some trading days the stock outperforms its competitors, while it underperforms on others. Despite experiencing an advertising slowdown that led to declines in both revenue and earnings, we still see a surge in digital subscriptions compensating for weak ad revenue. There is also a licensing pact with OpenAI, serving as another cause for a stock rise. The company has also undergone significant corporate changes, with Rupert Murdoch stepping down, and an activist investor starboard reportedly seeking changes. Various stock cancellation plans have been brought into action involving both Class A and B stocks. However, some believe that a break-up could potentially unlock $7bn in value. The company is also named as one of the world's top 10 news media companies and expanded by signing a landmark multi-year global partnership with OpenAI.
News Corporation Stocks News Analytics from Fri, 11 Aug 2023 07:00:00 GMT to Sun, 30 Jun 2024 23:11:30 GMT - Rating 3 - Innovation 2 - Information 8 - Rumor -7
