News Corp investors reading between headlines
Independent Financial Research
News Corp investors reading between headlines. Since Intelligent Investor recommended News Corp at the height of the hacking scandal in 2011 the share price has more than doubled. This may not be as clear-cut an opportunity due to the niggling worries over management, but there's enough to warrant a closer look. News Corp has an enterprise value of $US7 billion, almost half of which is accounted for by the stake in REA. The company's book publishing division is worth $1.5 billion and we'd estimate Fox Sports and Foxtel are worth at least $4 billion. Even without ascribing a value to digital education business Amplify, these assets easily support the current share price. If management can bring itself to dump the Australian newspaper operations - Clive, forget the dinosaurs, here's your chance to own another Titanic! - before the losses get too large, the current price could look very attractive.(VIEW LINK)
Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...
No areas of expertise