News Corp To Review Strategic Options for News America Marketing
June 18 2019 - 8:30AM
Business Wire
As Part of Efforts to Simplify the Company’s
Structure and Enhance Shareholder Value, News Corp is Reviewing
Options for its News America Marketing business, Including a
Potential Sale
News Corp announced today that to optimize its
portfolio and simplify the structure of the Company, it is
actively evaluating strategic options for its News America
Marketing business (NAM).
The review of NAM, one of the most valued partners in the
marketing services industry for brands, retailers and technology
innovators, includes exploring a potential sale. This
process is being undertaken in order to allow greater focus on News
Corp’s primary pillars, including the creation and distribution of
premium content and global digital real estate services.
“We believe this strategic review will result in enhanced
shareholder value, as we seek to streamline our company, with the
aim of greater transparency and profitability,” said Robert
Thomson, Chief Executive of News Corp. “Candidly, the NAM business
has been transformed from one based on newspaper inserts to one of
the leading in-store marketing companies in the US, with a growing
digital component and an expanding array of tech partners.”
“With its extensive access to first-party shopper
data, close relationships with consumer goods companies and
placements in thousands of retail stores, NAM can
track the shopper journey between customers and some
of the biggest brands and largest retailers,”
said Mr. Thomson. “NAM is a crucial player in the digital
evolution of retail media and an innovator in in-store
marketing.”
NAM has a proprietary database of millions of shoppers and
extensive purchase data, which allows retailers and brand partners
to target the right people in the right place at the right time.
The business has comprehensive in store marketing media options in
over 60,000 stores in the US and Canada, and reaches
households across the country with circulation of more than 60
million through nearly 2,000 publications.
NAM also has digital solutions to turn shoppers into buyers
through mobile cash back apps, retailer load-to-card programs and
print-at-home couponing. In addition, the business
has a digital media network, powered
by first-party shopper data, including programmatic display,
email, social and video to help brands and retailers connect with
consumers. NAM has a sales force of more than 300 people in 12
offices across the US and Canada.
News Corp has retained Allen & Company LLC as its
financial advisor to assist the Company in its review of NAM;
there is no assurance regarding the timing of any action or
transaction, nor that the strategic review will result in a
transaction or other strategic change.
Forward-Looking Statements
This release contains forward-looking statements based on
current expectations or beliefs, as well as assumptions about
future events, and these statements are subject to factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. The words
“expect,” “estimate,” “anticipate,” “predict,” “believe,”
“potential” and similar expressions and variations thereof are
intended to identify forward-looking statements. These statements
appear in a number of places in this release and include statements
with respect to, among other things, the strategic review and
potential sale of the Company’s News America Marketing business.
Readers are cautioned that any forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties. Many factors, such as the risks and uncertainties
related to the review of strategic alternatives for the News
America Marketing business, including not completing a transaction
or pursuing other strategic alternatives or not completely
realizing the anticipated benefits from any such transaction, could
cause actual results to differ materially from those described in
these forward-looking statements. The forward-looking statements in
this release speak only as of this date and the parties undertake
no obligation (and expressly disclaim any obligation) to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global,
diversified media and information services company focused on
creating and distributing authoritative and engaging content. The
company comprises businesses across a range of media, including:
news and information services, subscription video services in
Australia, book publishing, and digital real estate services.
Headquartered in New York, News Corp operates primarily in the
United States, Australia, and the United Kingdom, and its content
is distributed and consumed worldwide. More information is
available at: http://www.newscorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190618005552/en/
News Corp Investor RelationsMichael
Florin212-416-3363mflorin@newscorp.com
News Corp Corporate CommunicationsJim
Kennedy212-416-4064jkennedy@newscorp.com
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