News Corp (ASX:NWS) to buy oil data firm OPIS for $1.15 bn

Company News

by Lauren Evans

News Corp (ASX:NWS) set to acquire the Oil Price Information Service (OPIS) and related assets from S&P Global and IHS Markit for $1.15 billion. The global broadcaster plans to expand on its energy, commodity and renewables database.

OPIS will become part of Dow Jones' Professional Information Business (PIB), which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva. 

News Corp’s acquisition is subject to regulatory approvals and the consummation of the S&P Global and IHS Markit merger. 

News Corp chief executive Robert Thomson said, “OPIS will be the cornerstone for a rising commodities, energy and renewables digital business that we are convinced will have a positive impact on Dow Jones and News Corp.”

Shares in News Corp (ASX:NWS) are trading 1.03 per cent higher at $32.49. 
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.