Jefferies Starts News Corporation (NWSA) at Hold

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Jefferies initiates coverage on News Corporation (Nasdaq: NWSA) with a Hold rating and $15 price target.

The firm comments, "Initiating coverage with a Hold rating due to concerns about company's legacy print assets. An unsteady print-to-digital transition of these businesses clouds the favorable cable network outlook. High margin incremental retransmission revenue at the Fox broadcast network should make FOX look more like a cable network over time."

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