ASX shares of News Corp plunge after CoStar ends talks to buy Move Inc

News

22/02/2023 03:04

** ASX-listed shares of media conglomerate News Corp
 NWS.AX  fall as much as 8% to A$25.31, set to lose most since
Nov 9, if losses hold 
    ** News Corp confirms that it is no longer in talks with
CoStar Group  CSGP.O  to sell Realtor.com owner Move Inc
    ** News Corp issued a statement on Tuesday saying it would
keep looking for ways to "optimize the value" of digital real
estate services unit Move    
    ** News Corp in January was exploring the sale of Move Inc
to CoStar
    ** NWS earlier this month slashed 1,250 jobs or 5% of its
workforce post an earnings crash
    ** Shares hit lowest since Nov 10, 2022
    ** Stock has risen 0.9% this year, as of last close 
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))