An activist investor has acquired a roughly $150M stake in News Corp — aiming to push it to separate the digital media business from its digital real estate assets. That could complicate Rupert Murdoch's plan to recombine Fox Corp. and News Corp.
News Corp. and Fox Corp. had formed committees to begin exploring a potential combination of the two firms.: Irenic believes News Corp would be valued higher if its digital real estate practice, which includes a large digital real estate listings business in Australia, was separated from its media business.
: Dow Jones had revenues of over $2.1 billion in fiscal year 2022, and over $433 million in earnings before interest, taxes, depreciation and amortization.
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