'Activist Hedge Fund Starboard Eyes Rupert Murdoch's News Corp' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Activist hedge fund Starboard Value has reportedly bought shares in News Corp, potentially indicating a push for changes within the media company. The size of the stake and the fund's plans are unknown. News Corp's shares have risen 14% this year but have underperformed compared to peers like New York Times Co. Starboard has previously pushed for changes at companies like Salesforce and Darden Restaurants.
October 13, 2023 | 7:41 pm
News sentiment analysis
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NEGATIVE IMPACT
News Corp's shares have underperformed compared to peers like New York Times Co.
News Corp's underperformance compared to peers like New York Times Co. could potentially make it a less attractive investment option, negatively impacting its stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Starboard Value has previously pushed for changes at Salesforce.
Starboard Value's history of pushing for changes at companies like Salesforce could potentially impact Salesforce's stock price, depending on the nature of any future actions by Starboard.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
News Corp was in talks to sell its stake in Move, operator of the Realtor.com website, to CoStar Group Inc for about $3 billion, but the deal talks ended unsuccessfully.
The unsuccessful deal talks between News Corp and CoStar Group could potentially impact CoStar's stock price, depending on how the market perceives the failed deal.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Starboard Value has previously pushed for changes at Darden Restaurants.
Starboard Value's history of pushing for changes at companies like Darden Restaurants could potentially impact Darden's stock price, depending on the nature of any future actions by Starboard.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Investor opposition led by Irenic Capital Management forced Rupert Murdoch to abandon a proposed merger with Fox Corp.
The abandonment of a proposed merger with Fox Corp due to investor opposition could potentially impact Fox Corp's stock price, depending on market perception of the failed merger.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Starboard Value's acquisition of News Corp shares could lead to calls for changes within the company, potentially impacting its stock price.
The acquisition of News Corp shares by Starboard Value, an activist hedge fund known for pushing for changes in companies, could lead to significant changes within News Corp. This could potentially impact the company's stock price, depending on the nature of the changes and how they are perceived by the market.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100