Bloomberg reported that News Corp. plans to sell Move Inc. to CoStar Group Inc.
Move Inc. is the parent company of Realtor.com and a few other real estate-related websites.
- A statement from News Corp. confirmed the discussions with CoStar, and the company is assessing opportunities to maximize shareholder value.
- Sources told Bloomberg that the deal, worth around $3B, would be made public in a few days.
- News Corp. acquired Move in 2019 for $950M. News Corp. evaluated assets after Rupert Murdoch proposed recombining News Corp. and Fox Corp. in October.
- Irenic Capital Management, a News Corp. investor, is pushing to spin off real estate businesses.