Tag Archives: nws

Comcast To Reclassify Stock, Q3 Earnings Seen Rising

Comcast (CMCSA), which reports Q3 earnings before the open Tuesday, said its board has approved a proposal to reclassify its shares so that only its Class A common shares remain. The proposal requires shareholder approval. Comcast’s stock, as well as the stocks of News Corp. (NWS) and 21st Century Fox (FOXA), began trading in September with multiple listings in the S&P 500. The S&P Dow Jones Indices in January had announced plans to change its

News Corp. Move Acquisition Smacks Trulia, Zillow

News Corporation’s sudden move into the online real estate business has shaken some Wall Street investors. Stocks of online real estate companies Trulia (TRLA) and Zillow (Z) were down more than 2% and 3%, respectively, in midday trading on the stock market today. The decline followed News Corp.’s (NWS) announcement that it plans to acquire Move (MOVE), a leading online real estate company, for $21 a share, or $950 million. The purchase price

Gannett latest media firm to jettison newspaper assets

With readership declining for newspapers and magazines, diversified media companies are shedding their legacy print businesses by way of spinoffs so they can focus on faster-growth opportunities. Gannett (GCI) on Tuesday joined News Corp. (NWS), Time (TIME) and other media firms in the trend of casting off print assets as separate publicly traded companies. In better times, such companies might have sold their print operations, but these days no one is buying. McLean, Va.-based Gannett said it will create two publicly traded companies: one for its broadcasting and digital businesses and one for its publishing businesses. The legacy newspaper business, which includes USA Today and 81 local U.S. daily papers, will retain the Gannett name. The broadcasting and digital business, which will get a shiny new name, includes 46 TV stations and online services like CareerBuilder and Cars.com. Gannett expects to complete the separation by mid-2015. In its public statements,…