Reuters was first to report Starboard Value, the activist hedge fund run by Jeffrey Smith, has bought shares of News Corp (NWSA.O), a move that could presage new calls from investors for changes to Rupert Murdoch’s media empire.
Business & Finance
Activist hedge fund Starboard eyes Rupert Murdoch’s News Corp
14 October 2023, 2:07 pm 1 minute
Market Impact
News Corp’s shares rose 1% on the Starboard news before trimming gains and ending trading at $20.91. News Corp’s shares are up 14% year-to-date but have underperformed some peers like New York Times Co (NYT.N). Its bets to boost digital revenue and subscriptions have yet to fully pay off.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: Americas
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
