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.

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