2026

February 2026

Buy 400 shares of News Corp (NWSA) at $22.50

After a long hiatus, I'm back and plan to update this journal as time permits. One of my recent high conviction picks going into this year is News Corp, the sibling of Fox Corp. Both companies are controlled by the Murdoch family. Since my post about Fox in late 2022, Fox has done extraordinary well and outperformed my expectations.

I've looked at News Corp in the past but dismissed it due to secular fears of a decline in print media and their ownership of Foxtel, a Australian pay tv service. I thought News Corp faced an existential threat due to social media and the shift towards online news. I also wasn't crazy about Foxtel, which faced serious competition and didn't seem to have great future prospects.

However, things have taken a turn in the positive direction. News Corp sold Foxtel in April 2025 for $2.2 billion, removing a business that was in secular decline and a drag on the rest of the company.  News Corp now has a net cash position (~$125 million as of Q2 2026) and initiated a $1 billion buyback program. These are both positive catalysts and position News Corp well for the future. 

I see News Corp as broken up into 4 businesses:

1. Dow Jones (WSJ, Barron's, Marketwatch, etc.)

2. Book Publishing (HarperCollins)

3. News Media (NY Post, The Times, The Sun, etc.)

4. Digital Real Estate (61.4% stake in REA Group and 80% stake in Move)