News Corp. (NWSA) Purchasing Disney’s Interest in ESPN Star Sports

News Corp. (NASDAQ:NWSA) reported on Wednesday that it has decided to purchase associate Walt Disney Co.’s (NYSE:DIS) stake in Asian sports broadcasting firm ESPN Star Sports, ending the two firms’ 16-year association in the zone.

ESPN Star Sports has been operated as a 50/50 JV between Walt Disney’s and sports network ESPN Inc. and News Corp.’s Star division, a media firm which provides satellite television and additional services in Asia region.

Financial terms of the deal were not revealed. News Corp. possesses Dow Jones & Co., Marketwatch and The Wall Street Journal.

Other services stocks with bullish trend include Dollar General Corp. (NYSE:DG) up 2.95% to $48.14, Sirius XM Radio Inc (NASDAQ:SIRI) up 0.53% to $1.90 and MGM Resorts International (NYSE:MGM) up 5.40% to $11.51, whereas with bearish trend include Delta Air Lines, Inc. (NYSE:DAL) down -0.95% to $10.48, Seven Arts Pictures plc (NASDAQ:SAPX) down -7.00% to $0.0465 and Mitcham Industries, Inc. (NASDAQ:MIND) down -6.77% to $17.07.

News Corp (NASDAQ:NWSA) stock’s trade at beginning with a price of $18.70 and the current trading session climbed at a high of $19.07 other than the stock finally advanced 2.34% to $19.04 at 10:31AM EDT.

Shares price of NWSA moved down from its 20 days moving average with -2.22% and remote negatively from 50 days moving average with -2.20%. NWSA current year earnings per share experienced an addition with 17.66% while its current quarter performance remained -2.21%.

NWSA has a trade volume of 5.06 million shares is lesser as compared to average trading capacity of 16.76 million shares.

NWSA last month stock price volatility remained 2.22%. In its share capital NWSA has 2.42 Billion outstanding shares among them 2.03 Billion shares have been floated in market exchange. NWSA stock institutional ownership remained 93.49% while insider ownership included 0.05%.

The stock is ahead its 52 week low with 43.56% and lagging behind from its 52 week high price with -8.16%. Company’s beta coefficient included 1.46. Beta factors measures the amount of market risk associated with market trade.

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