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Rupert Murdoch has ended pursuit of UK online property giant Rightmove.

Rupert Murdoch walks away from $12 billion chase for property giant

Murdoch’s REA Group has abandoned its pursuit of UK online property group Rightmove after its fourth takeover proposal was knocked back.

  • Pui-Guan Man

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Uncertainties in the British economy have led to a lower share price for Rightmove, despite the size of the market.

News Corp-backed real estate group eyes global property push

The operator of realestate.com.au is mulling a tie-up with UK’s top property portal, but the market isn’t sold on the move.

  • Penry Buckley
The activist investor’s push comes a month after comes a month after Rupert Murdoch announced he was standing down as chairman of both News Corp and Fox, handing over the reins to son Lachlan.

Murdoch under pressure from US hedge fund to break up his media empire

Starboard Value, which is run by “the most feared man in corporate America”, has built a stake in News Corp and calls for a spin-off of REA Group, its Australian real estate division.

  • James Warrington
News Corp Australia has encouraged staff to try ChatGPT.

Housing downturn blunts earnings at Murdochs’ News Corp

News Corporation says a previously announced cost-cutting drive will produce bigger savings than first thought, while income slides on weaknesses in segments such as real estate and Australian news publishing.

  • Nick Bonyhady and Clancy Yeates
Sources said REA Group will increase property listings prices by up to 18 per cent.

REA Group to hike property listing prices

The new proposed price hikes will be the highest for REA Group since the COVID-19 pandemic.

  • Zoe Samios
Rupert Murdoch’s News Corp is no longer in talks to sell Move.

News Corp says $4.4 billion deal to sell US real estate business Move is off

A month after abruptly halting plans for a potential merger of its major media companies Fox Corporation and News Corporation, Rupert Murdoch’s business empire said it’s no longer involved in discussions to sell its real-estate listings business Move to rival CoStar.

  • Christopher Palmeri
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REA Group chief executive Owen Wilson is not worried about the latest interest rate rises.

REA boss expects interest rate rises could peak mid-year, property market to stabilise

The chief executive said the News Corp controlled real-estate listings portal was looking closely at cost reductions as it weathers the uncertain economic environment.

  • Zoe Samios
REA Group chief executive Owen Wilson: “We sent out two million buyer inquiries in July and these buyers are in the market knowing that interest rates have come up and knowing that they’ll probably go up further from here.”

‘Put it in context’: REA boss Owen Wilson says house price falls not as bad as they seem

Listing levels for July were at their highest since 2016, and price declines were coming off an abnormally strong property market, the head of the real estate portal says.

  • Zoe Samios
REA Group has hired KPMG to conduct an urgent review of its payroll.

REA Group investigating potential staff underpayments

REA Group told staff KPMG was conducting an urgent review into the matter.

  • Zoe Samios
REA Group CEO Owen Wilson.

REA aims to ‘significantly’ speed up mortgage approvals with $15m tech play

REA chief Owen Wilson is betting the company can use its clout in real estate listings to grab a growing share of the mortgage broking market.

  • Clancy Yeates

Original URL: https://www.brisbanetimes.com.au/topic/rea-1aa