A chance to back Rupert again
If you backed Rupert at the beginning in Adelaide you would have done pretty well. At the investor day Rupert laid out that he has been given the extraordinary opportunity of the chance to do it all over again. Rupert believes there is opportunity everywhere and as stated at the investor day knowledge is the most valuable commodity in the world. Rupert has the track record and $3 billion in cash ($500m available for share buybacks) in News New Corp better than the zero he started out with in Adelaide.
Not just publishing
My stereotyping of New News Corp as being a publishing company is not entirely true. As can be seen below New News owns Fox sports and 61% of Realestate.com.au. Two great Australian assets with good growth outlooks. Australians love their sports, 80% of foxtel subscribers subscribe to sport and Australians love real estate. All that is left is to buy a beer company!
While New News Corp has a lot of Australian assets and has been called the Australian spin off more than 64% of revenue will be earned overseas. This overseas exposure is much larger than most global companies listed in Australia. New News is more American than Australian.
Not an Australian publishing asset
Disclosure: Decisive does not have a position in New News Corp or 21st Century Fox stock