Rupert Murdoch's News Corp
(ASX:NWS) has tied up its $US950 million purchase of US online real estate business Move Inc. (NASDAQ:MOVE).
The diversified media company announced the deal in October and says it has now successfully completed the acquisition.
News Crop advises Move is a provider of online real estate services and operates a network of sites, including the official website for the National Association of Realtors.
Move displays more than 98 per cent of all for-sale properties listed in America and the Move network of websites reaches more than 30 million people per month.
News Corp’s majority owned REA Group Limited
(ASX:REA) will take a 20 per cent interest in Move, which is expected to be completed today.
News Corp reported a net profit of $312 million in the full 2014 financial year.
