Newscorp buys operator of real estate websites
Deal will jump start firm's real estate services business
[NEW YORK] News Corp, the publishing company controlled by Rupert Murdoch, agreed on Tuesday to buy Move Inc, an operator of real estate listings websites, for US$950 million in cash, as the newspaper publisher continues to branch out into new businesses.
The transaction is the latest, and largest, by Mr Murdoch's publishing arm since it split from 21st Century Fox last year.
Under the terms of Tuesday's deal, News Corp will pay US$21 a share through a tender offer for Move's stock.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender
US mortgage rates up for fifth week at 7.22%
Amsterdam parking space up for grabs for half-a-million euros
Where innovation and play meet: Singapore Science Park welcomes new ‘mini city’ concept