$750k high-delta call buyer in News Corporation » 10:1009/2109/21/21
$750k high-delta call…
$750k high-delta call buyer in News Corporation. Shares up 66c, or 3%, to $22.52 this morning with call volume 200x normal after a large block on the Phlx floor, where a buyer has snapped up nearly 7800 Oct 22 calls to open a new position with delta impact near 360K shares. Data shows a number of sweep purchases in the $1 to 1.10 range shortly after the open as shares traded $22.43, with a final block of 6252 bought for 1.20 on the Phlx as shares traded 22.53.
Early notable gainers among liquid option names on September 21st » 09:5509/2109/21/21
NWSA, BBWI, AZO, COP, ESS
Notable gainers among…
Notable gainers among liquid option names this morning include News Corp. (NWSA) $22.45 +0.59, Bath & Body Works (BBWI) $65.93 +1.50, AutoZone (AZO) $1620.85 +35.68, ConocoPhillips (COP) $58.32 +1.25, and Essex Property Trust (ESS) $327.94 +6.49.
|Over a week ago|
DOJ staff leaning toward recommending S&P, IHS deal, Capitol Forum says » 18:5309/1309/13/21
SPGI, INFO, NWSA
Department of Justice…
Department of Justice staff is leaning toward recommending that the agency clear S&P Global's (SPGI) acquisition IHS Markit (INFO) now that the companies have lined up News Corp. (NWSA) as the divestiture buyer for IHS Markit's energy pricing service, Capitol Forum reports, citing sources familiar with the matter. The full text of the article is only available for Capitol Forum subscribers and a brief was shared with The Fly by the news service. Reference Link
News Corp. Australia to ease climate change denial, NY Times reports » 06:0709/0709/07/21
News Corp. Australia…
News Corp. Australia plans to ease climate change denial and its media outlets plan an editorial campaign next month advocating a carbon-neutral future, The New York Times' Damien Cave reports. The move could put pressure on Fox News and other Murdoch-owned outlets in the U.S. and Britain that have been hostile to climate science, according to the report. Reference Link
|Over a month ago|
Politico seeks as much as $1B in possible Axel Springer deal, NY Times reports » 17:5408/1708/17/21
NYT, NWS, NWSA
Politico is targeting as…
Politico is targeting as much as $1B in a potential tie-up with Axel Springer, the New York Times' Edmund Lee reports. Politico has been in discussions with Axel about a possible investment or an outright sale, Lee notes. Publicly traded news publishers include New York Times (NYT) and News Corp. (NWSA). Reference Link
Axel Springer in discussions to buy ownership stake in Politico, WSJ reports » 16:0208/1608/16/21
Axel Springer is in talks…
Axel Springer is in talks to purchase an ownership stake in Politico, a deal that would consummate a yearslong relationship between the two companies, The Wall Street Journal's Benjamin Mullin reports, citing people familiar with the matter. The talks also include the possibility of a full buyout, the people said. Axel Springer, which owns the German newspapers Bild and Die Welt, has been adding to its U.S. media holdings in recent years, the author notes. The company purchased Business Insider in 2015 for about $500 million and recently bought Morning Brew, a digital publisher that has focused largely on business. Publicly traded news publishers include New York Times (NYT) and News Corp. (NWSA). Reference Link
Pre-earnings call buyer in News Corp » 11:1008/0208/02/21
Pre-earnings call buyer…
Pre-earnings call buyer in News Corp. Shares trading up 24c, or 1%, near $24.87 with earnings scheduled for Thursday after the bell, with notable flow in the Aug 25 calls, where a buyer paid 83 to 94c for nearly 3800 contracts to open a new position. Straddle pricing a move near 6% on the release, in line with recent quarters. To break-even on this $350k trade, shares will need to top $26 over the next few weeks.
News Corp. to buy OPIS, associated businesses from S&P, IHS Markit for $1.15B 07:3208/0208/02/21
NWS, NWSA, SPGI, INFO
S&P Global, IHS Markit agree to sell OPIS and associated businesses for $1.15B » 07:3208/0208/02/21
SPGI, INFO, NWS, NWSA
S&P Global (SPGI) and…
S&P Global (SPGI) and IHS Markit (INFO) announced an agreement to sell IHS Markit's Oil Price Information Services; Coal, Metals and Mining; and PetroChem Wire businesses to News Corp (NWSA) in a cash transaction valued at approximately $1.15B. The sale is expected to be completed at the close of the merger between S&P Global and IHS Markit. The companies said: "The agreement marks the culmination of S&P Global and IHS Markit's previously announced decision to explore a divestiture of these businesses and represents an important milestone on the path to regulatory approval for the merger between S&P Global and IHS Markit. Both the merger and the divestiture remain subject to further review and approval by regulators and antitrust authorities. S&P Global and IHS Markit will continue to work constructively with all regulatory bodies and antitrust authorities on their continued review of the proposed merger, including the adequacy of the proposed divestiture. S&P Global and IHS Markit continue to expect to close the proposed merger in the fourth quarter of 2021, subject to the satisfaction of specified closing conditions."
News Corp. upgraded to Buy from Neutral at UBS » 08:2707/2607/26/21
UBS analyst Tom Beadle…
UBS analyst Tom Beadle upgraded News Corp. to Buy from Neutral with a price target of A$39.50, up from A$35. The analyst likes the long-term prospects of the media group's Dow Jones unit. Beadle now assumes Dow Jones holds its current EBITDA margin of about 21% into perpetuity and he raised its valuation to 11.6 times 2022 EBITDA from 8.9 times previously. The New York Times, a key rival, trades at 19 times 2022 EBITDA, Beadle tells investors in a research note.