News Corp’s multi-billion dollar plans to sell its US digital real estate business Move, announced in the wake of aThe deal – worth an estimated $US3 billion – would have sold the company that owns the website realtor.com to rival CoStar Group.
“News Corp does not intend to make any additional comments regarding this matter unless and until it is appropriate or required to do so.”The media conglomerate owns 80 per cent of Move, with REA Group owning the remaining 20 per cent. REA also announced that discussions about the sale had ceased. The announcement comes less than a month after the Murdochs called off the proposed mega merger of their two media empires.
It leaves questions unanswered about possible moves to give the younger Murdoch more power and responsibility within the media companies.