News Corp. Buys Online Realty Business

newscorp-1News Corp. has purchased Move, Inc., an online real estate business. Move owns and operates Realtor.com, Move.com and ListHub. Through those sites, the company “displays more than 98 percent of all for-sale properties listed in the US,” according to a release.

“This acquisition will accelerate News Corp’s digital and global expansion and contribute to the transformation of our company, making online real estate a powerful pillar of our portfolio,” said Robert Thomson, News Corp’s CEO, in a statement. “We intend to use our media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the US.”

As part of the deal, News Corp will buy Move’s outstanding shares for $21 a pop, or roughly $950 million.