News Corp's ASX-shares hit record high on earnings beat, potential Foxtel sale

News

09/08/2024 04:19

** Australia-listed shares of News Corp  NWS.AX , part of
media mogul Rupert Murdoch's empire, rise as much as 9% to their
all-time high of A$45.10
    ** Co posted better-than-expected revenue and profit for
fourth quarter, driven by strength in Dow Jones, real estate
listing units
    ** Co said it may sell Australian cable TV and streaming
unit Foxtel after receiving an approach
    ** A sale of Foxtel would relieve co of a business that has
faced disruption from cheap, narrow-margin streaming rivals 
    ** NWS stock among the top gainers on ASX 200 benchmark
index
    ** As of last close, stock up 9.9% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))