REA Group Buys 35% of Distilled, Expanding Marketplace Reach
NWS sits 26% above its 52-week low of $25.49.
Summary
REA Group, majority-owned by News Corp, is acquiring a 35% stake in Distilled, a marketplace operator that runs portals in Ireland and Northern Ireland. The deal expands REA's footprint beyond its core Australian real estate listings into adjacent online marketplaces. REA will fund the EUR248 million acquisition from debt and cash reserves, and expects completion by the end of December 2026. The company anticipates modest core EPS accretion in the first year after completion. This follows News Corp's strong fiscal Q4 results and ongoing share buybacks, reinforcing its focus on high-growth digital assets.
At the time of this announcement, NWS was trading at $32.24 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $16.2B. The 52-week trading range was $25.49 to $35.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.