NEW YORK (Reuters) – Starboard Value’s Jeff Smith said on Tuesday that News Corp. investors are not receiving the full value of the company’s various divisions and that spinning off the Dow Jones news division and REA real estate division would unlock billions in value.
“We believe this valuation does not make sense,” Smith said referring to the sum of parts at News Corp at the 13D Monitor Active Passive Investor Summit on Tuesday. “We believe separate news and real estate assets could help unlock $7 billion or more in value,” he said.
(Reporting by Svea Herbst-Bayliss)
