News Corp Considering Small Cap Stockhead Website For Upcoming Digital Game
Rupert Murdoch’s News Corp Australia is in talks to acquire ASX small-cap stocks website Stockhead, another sign that the Rupert Murdoch-controlled media giant is looking to expand through new digital outlets.
The editor of the australian, The daily telegraph and The sun herald has had advanced discussions with Stockhead, a website specializing in coverage of emerging ASX-listed companies, according to industry sources who spoke on condition of anonymity because the discussions are confidential. A News Corp spokesperson declined to comment. Stockhead director David Greer has confirmed talks are underway.
“We have had discussions with News over the past few months and things are definitely moving in a positive direction,” Greer said in this capacity. “There are exciting opportunities for us to potentially work together and we hope to consolidate a formal partnership in due course. “
News Corp has a habit of acquiring trade publications. In 2012, under the leadership of Kim Williams, then managing director, News Corp purchased Australian Independent Business Media, publisher of Business Spectator and the Eureka report news sites as part of a larger corporate restructuring.
He renamed The Australian‘s business section The Australian Business Review in 2014 and 2017 had high-level exploratory talks with TPG Capital on the purchase The Australian Financial Review. Covering business in its metro tabloids became a priority last year when News Corp formed a centralized business news bureau – The Australian Business Network – which is run by The Australian.
The commercial network shares print and digital content in News Corp’s large-format and metro newspapers. Metropolitan business journalists have been merged with the new national team. If the acquisition continues, it is not clear whether News Corp plans to integrate the Stockhead team into its sales network or separate the publication from its existing coverage.
News Corp is also expected to launch the new sports platform, Coded, by November 17 in what many believe is a local version of a closely watched international subscription website, athleticism.
Stockhead describes itself as a free news service that focuses on stories about emerging companies listed on ASX. It is owned by AG Media Investments, which has common shareholders with investor relations firm Media & Capital Partners.
It was founded by former News Corp and Fairfax digital editor David Higgins, former Media & Capital Partners chairman Jonathan Younger and former CEO Mr. Greer. Stockhead describes itself as “a team of highly experienced full-time journalists and contributors who produce independent journalism covering what we like to call the ASX2000,” and their articles focus on resources, healthcare and technology.