News Corp Completes Move Acquisition

(RTTNews) - News Corp announced today that it has successfully completed its acquisition of Move, Inc.

Move is a provider of online real estate services and operates a network of sites, including realtor.com, the official website for the National Association of Realtors.

The previously announced tender offer by a subsidiary of News Corp for all of the outstanding shares of Move common stock at a price of $21.00 per share expired as scheduled at the end of the day, 12:00 midnight, New York City time, on November 13, 2014. Excluding shares tendered by notice of guaranteed delivery, a total of about 34.3 million shares were validly tendered into and not withdrawn from the tender offer, representing, together with the shares owned by News Corp and its subsidiaries, about 83.1% of Move's outstanding shares.

As a result of the acquisition, Move shares ceased to be traded on the NASDAQ Stock Market.

REA Group Ltd., in which News Corp owns a 61.6% stake, has entered into a definitive agreement with News Corp to acquire a 20% stake in Move. The deal is expected to be completed on November 17.