NWS Stock Recent News

Activist investor Starboard Value has built a stake in Rupert Murdoch's News Corp, and intends to push for changes at the parent company of MarketWatch and the Wall Street Journal, according to a report Sunday night.

Starboard believes the media company trades at a significant discount due to its structure.

Murdoch's eldest son Lachlan will take over in November.

Rupert Murdoch is stepping dpwn as chairman of the board of Fox and News Corp. in November, the companies said today. He will be appointed Chairman Emeritus of each company.

The move leaves his son Lachlan as the sole executive in charge of the global media empire.

News Corporation CEO Robert Thomson (NWSA) sits down with Yahoo Finance Executive Editor Brian Sozzi at the Goldman Sachs Communacopia & Technology Conference as he unpacks the impact of AI on the media industry. Thomson states that AI will be "epochal" for news going on to warn that the industry could face a "tsunami potentially of job losses" due to the tech.

U.S. equities were mixed, with the S&P 500 losing 0.1% on Friday, Aug. 11, 2023, after a higher-than-expected rise in producer prices.

News Corp shares climbed after the company posted better-than-expected results on cost-cutting moves, and said artificial intelligence would help boost future results.

News Corporation has reported a 75% fall in profits - but says it is optimistic about the future thanks to the "remarkable opportunity" of AI.

News Corp (NASDAQ:NWS), the owner of the Sun and the Times newspapers, has reported a 75% decline in its annual profit and said it will roll out AI-generated content in a bid to cut costs. The company's net income for the financial year ended June 30 stood dropped to $187m in the 12 months just gone from $760m a year earlier as it was hit by a decline in ad income, which was felt most acutely in the UK and Australia.