News Corp Stock Price, News & Analysis

The 2021 Hottest ZIPs in America report reveals that homes in the top 10 ZIP codes are selling three times faster than last year, with an average of just six days on the market. Key factors driving demand include affordable prices, ample space, and proximity to amenities. The median asking price in the top 10 is significantly lower than national averages, with ZIP 80916 in East Colorado Springs listed at $318,000. The report highlights increasing millennial homeownership rates in suburban areas, showcasing opportunities for buyers seeking value and space.

The July housing market saw a positive shift for first-time buyers as new listings rose for the fourth consecutive month, reflecting a growing inventory of smaller homes. Although overall homes for sale declined 33.5% year-over-year, the rate of decline is decreasing. The U.S. median listing price remained stable at $385,000, up 10.3% year-over-year, but price moderation is noted due to more affordable options entering the market. The typical home spent 38 days on the market, marking a significant reduction from previous years, indicating a return to more seasonal trends.

News Corporation reported fiscal year 2021 revenues of $9.36 billion, a 4% increase, with a remarkable 30% growth in Q4. Net income rose to $389 million, reversing a prior year loss of $1.55 billion. Significant gains were noted in Digital Real Estate, Book Publishing, and Dow Jones segments, alongside record digital subscriptions. Foxtel saw a 155% rise in paid streaming subscribers. The company’s cash position improved to $2.2 billion, prompting a focus on buybacks and strategic growth opportunities.

News Corp has agreed to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for $1.150 billion. This acquisition aims to enhance Dow Jones’ Professional Information Business, offering nearly 100% digital and 95% recurring revenue streams with over 50% Adjusted EBITDA margins. OPIS, a leader in energy pricing and analytics, reported expected revenues of $129 million for its current fiscal year. The deal is subject to customary approvals, with an anticipated tax benefit of $180 million.

The Realtor.com Investor Report reveals that in 19 of the 50 largest U.S. markets, investors are contributing to housing inventory, notably in Atlanta, Dallas, and Baltimore. In April 2021, these areas saw significant increases in homes for sale, counteracting the inventory shortage affecting buyers. Meanwhile, 31 markets, including Phoenix and Charlotte, experienced a decline in inventory as investors bought more homes than they sold. The report highlights that rising home prices and stagnant rents are influencing investor decisions, with Atlanta's median listing price at $392,000 and a significant inventory drop of 63.4% year-over-year.

News Corp will announce its fourth quarter and full year Fiscal 2021 results on August 5, 2021. CEO Robert Thomson and CFO Susan Panuccio will hold a call at 5:00 p.m. EDT to discuss the findings. Analysts and media can participate via a listen-only line. A live audio webcast will be available on the company's investor site. Replays will be accessible for 10 business days post-call. News Corp operates globally in various media sectors, emphasizing authoritative content creation and distribution.

The June 2021 Realtor.com® Monthly Rental Report highlights a significant rise in U.S. rental prices, with the median rent hitting $1,575, an 8.1% year-over-year increase. Notably, 44 out of 50 major metros recorded record highs, particularly in Riverside, Memphis, Tampa, and Phoenix, experiencing over 20% growth. The Chief Economist points out that this surge exacerbates the K-shaped recovery from the pandemic, with rents outpacing income growth. Additionally, demand for larger living spaces has led to a notable increase in two-bedroom rents, up 10.2% year-over-year.

Tastemade and Realtor.com are set to launch the second season of their acclaimed series Beyond the Block on July 22, 2021. This five-episode series features REALTOR® Andrew Tyree assisting first-time homebuyers across various cities, addressing their unique needs in the housing market. With one-third of potential buyers looking for their first home, this season is particularly relevant. The show aims to explore the emotional journeys of buyers, highlighting the importance of community and lifestyle in finding a new home.