News Corp (Class B)

Methodology

News Corp's diversified media portfolio creates earnings volatility from advertising cycles, real estate listings (REA Group), and publishing trends. The Australian property portal provides more stable growth than traditional publishing. Focus on normalized earnings across advertising cycles and value each business segment separately given different growth and margin profiles.

Methodology

News Corp typically trades at low PEG ratios reflecting concerns about newspaper secular decline offset by valuable digital real estate assets like REA Group. The metric should separate declining print operations from growing digital platforms. Compare to media conglomerates while considering the sum-of-the-parts value from diverse asset mix.

Methodology

News Corp offers a modest dividend as management balances capital returns with debt management and strategic investments. The dividend adds some value though investors focus more on asset value and restructuring potential. For this media conglomerate, sum-of-parts valuation matters more than traditional growth metrics.