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News Corp. considers split in 2, stock jumps
Question of the Day
On Monday, investors buying News Corp. stock were paying the equivalent of $5.80 for every $1 of operating earnings that the combined company is expected to generate this year, according to Gould. That’s 20 percent lower, or $1.50 less, than investors are paying for more pure play TV and film companies like CBS Corp. and Viacom Inc.
Do the math on News Corp.’s expected $6 billion in operating earnings this year, and that means the company is being valued $9 billion less than its TV and film rivals. Gould says the idea behind the split is to capture some of that $9 billion. He believes the company could do it and is recommending that his investing clients buy the stock.
Business Writer Bernard Condon in New York and Associated Press writer Raphael Satter in London contributed to this report.
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