News Corp has pursued an acquisition strategy to diversify and grow adjacent to its core news businesses. It has made several acquisitions including Move Inc. to leverage the WSJ Digital Network audience, launched MansionGlobal.com to better monetize real estate content globally, and acquired a stake in PropTiger to bring its real estate resources to the Indian market. News Corp has also incubated new sites like GetNewsmart.com to tap into professional business growth using WSJ content. The document outlines News Corp's rationale and early results for these ventures as part of its diversification strategy.

1. rnarisetti@newscorp.com
@raju
In Search Of Adjacent Growth:
The News Corp (Diversification) Playbook
Raju Narisetti
Digital Winners
Oslo, October 21, 2015

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@raju

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Surround transactions with content/tools/information and ‘news
you can actually use’
Route: Acquisition of Move Inc., September, 2014
Cost: $950 million
Rationale: Leverage 60 mil/monthly WSJ Digital Network
audience funnel, for starters
Early Results: 43% y-o-y growth in UV’s, to 48 million
@raju

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Better monetize real-estate content globally with MansionGlobal.com
Route: Incubated @NewsCorp; owned and operated by @DowJones
Cost: In-house team of 15; design/development/build outsourced
Rationale: Identified global gap for a one-stop marketplace for premium
homes; Leverage WSJ/Times of London/Sunday Times/Australian
“mansions” content
Results: Launched in English, Chinese and Spanish in May 2015
250,000 unique visitors; 2 (very expensive) homes under contract
@raju

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Indians need 5 million homes each year, for next 20+ years.
Route: Acquired 25% stake in November 2014.
Cost: $30 million, and a route to future majority ownership.
Rationale: Bring global real-estate resources/expertise. Indians among
the most prolific second-home buyers in Australia, UK, Singapore and
USA. Already providing premium home listings to MansionGlobal and
supplying 100,000+ India listings to Realtor.com
Results: Consolidate India’s nascent digital real-estate sector. A very
long-term play, as more Indians begin their real-estate search online.
@raju

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Tap into professional business growth aspiration with WSJ, the
best business information brand worldwide, with
GetNewsmart.com
Route: Incubated @NewsCorp, operated by @Dowjones. Soft
launched in August
Cost: In-house team of 6, Design/Dev/Build outsourced
Rationale: Leverage daily WSJ content into an aspirational, self-
paced learning experience, potentially build future audience
funnel
Early Results: 7,000 Registered Users
@raju

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Other Acquisitions
$25 million
$176 million
(Upfront + Earnouts)
N/A
C$455 million
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What We Didn’t Do
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“If we want things to stay as they are,
things will have to change.”
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