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News Corp Class A NWSA

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Morningstar’s Analysis

Valuation
Currency in USD
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Is it the right time to buy or sell?
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

News Is Good from Dow and Move

Brian Han Director

Analyst Note

| Brian Han |

We lift our fair value estimate for News by 8% to USD 17.30 per share, or AUD 23.40 at the current exchange rate. The upgrade reflects stronger-than-expected momentum in key units (digital real estate, Dow Jones’ underlying fundamentals), and incorporation of earnings contributions from recent acquisitions (IBD, Haughton, OPIS). We have increased our longer-term group EBITDA estimates by around 10%, mainly driven by upgrades to Dow Jones and digital real estate, the two fastest-growing and highest-quality units in News’ empire.

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Company Profile

Business Description

News Corporation is a media conglomerate with large presence in the U.S, the U.K., and Australia. Key brands include The Wall Street Journal, Herald Sun, and The Times. The company also has a strong presence in the Australian pay-TV market through Fox Sports and Foxtel (both 65%-owned), while its 62%-owned REA Group is the dominant real estate classified business in Australia. In addition, it owns HarperCollins, one of the largest book publishers globally, and also has a substantial digital property advertising business (Move) in the U.S.

Contact
1211 Avenue of the Americas
New York, NY, 10036
T +1 212 416-3400
Sector Communication Services
Industry Broadcasting
Most Recent Earnings Jun 30, 2021
Fiscal Year End Jun 30, 2022
Stock Type Slow Growth
Employees 24,000

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