REPORTING SEASON: New News Corp (NNC)
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Figure 1: New News Corp 12 month chart
Recently split media company, New News Corp (NNC) provided few insights this morning into its performance since listing in mid-June this year.
Write-downs, one-off costs and a detailed breakdown of its operations should be provided in the form of ‘securities filing’ (announcement) in the coming weeks.
In June 2013, Rupert Murdoch decided to separate his News Corp media empire in two; splitting the underperforming publishing arm (which NNC is responsible for in addition to Fox Sports Australia), from its stronger entertainment business (which FOX looks after).
NNC is around 11 times smaller than FOX.NNC shares are up 19.8% since June 20.