News Corp has acquired US property agency Move for just under $1bn in a bid to expand the group into real estate – hedging its bets on the recovering property market.
As a result of the $950m deal, Rupert Murdoch’s firm now owns 80 per cent of the realtor with News Corp subsidiary REA Group set to purchase the remaining 20 per cent. Under the agreement News Corp will acquire all of Move’s out-standing shares at $21 a unit.
As one of the US’s leading property websites, Move sourced over 98 per cent of for-sale properties listed in the US though partnerships Read full story ›
Source: The Drum
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