Boston, MA 07/11/2013 (wallstreetpr) – News Corp. (NASDAQ:NWSA) recently announced that the company will soon be dividing itself into two parts. Investors wonder whether the company will make another attempt to acquire the 61 percent stake in the BSkyB, the British satcaster. In light of the recent phone hacking scandal the company faced at its UK printing business, regulatory authorities in the United Kingdom are currently discussing whether News Corp. (NASDAQ:NWSA) is eligible to hold the broadcast license in the country.
Alex De Groote, analyst at Panmure Gordon Media, reported that it will take News Corp. another two or three years before it can effectively move forward in the acquisition of BSkyB, despite announcements made by the company CEO that the acquisition will proceed promptly. The analyst also commented that the company’s decision to divide the business into the two segments of print and entertainment, may be a tactically astute move. He also believes that News Corp. (NASDAQ:NWSA) will proceed to the necessary measures to take over BSkyB, an acquisition which is expected to cost more than $12.5 billion the company previously intended to pay.
News Corp’s (NASDAQ:NWSA) share price declined by 2.04 percent on Wednesday closing at $15.39 per share for the day. Intraday prices for the stock touched a low of $15.15 and a high of $15.57 per share. Trading volume stood at 16.34 million shares of the company on Wednesday while on an average, there are 14.57 million shares per day of trading.
News Corp (NASDAQ:NWSA) currently has a 52-week low price of $14.69 and a 52-week high price of $16.37 per share. The market cap is $8.90 billion with 578.50 million shares outstanding and negligible institutional ownership.
