News Corp says $4.4 billion deal to sell US real estate business Move is off

 A month after abruptly halting plans for a potential merger of its major media companies Fox Corporation and News Corporation, Rupert Murdoch’s business empire said it’s no longer involved in discussions to sell its real-estate listings business Move to rival CoStar.

The publishing company controlled by the Murdoch family had been in talks to sell the parent of Realtor.com and other real estate-related websites for more than $US3 billion ($4.4 billion), people familiar with the talks said last month. The Financial Times had reported News Corp was to sell the entirety of its 80 per cent stake under the plans.

News Corp said in a statement on Tuesday that it will “actively assess opportunities” as it continues a strategy of optimising the value of its online real estate segment, declining to make further comments. The company has received interest from other potential buyers, said a person familiar with the talks who asked not be identified because they are private.

Read More: https://www.smh.com.au/business/companies/news-corp-says-4-4b-deal-to-sell-us-real-estate-business-move-is-off-20230222-p5cmn6.html



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