How Many Billions Has News Corp. (NWSA) Lost from Recent Allegations, M&A Delays?
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News Corp. (Nasdaq: NWSA) shares are down nearly 15 percent over the last several days following an alleged phone hacking controversy by the company's former News of the World unit.
How much market cap was lost over the period? About $7 billion. All on paper, of course.
The stock fell 7.6 percent Monday, marking the sharpest decline since April 2009.
A recent high of $18.35 was hit at the end of May, though shares were nearing this level just as the News of the World story broke. The stock hit a near-term high at $18.13 as of July 5th.
One RBC analyst sees the slide as being out of proportion based on reports of the hacking and also the delay of the BSkyB acquisition.
U.K.'s Deputy Prime Minister, Nick Clegg, told Murdoch to reconsider the BSkyB offer following the hacking allegations. But News Corp stated Monday it anticipates getting regulatory approval for the acquisition.
How much market cap was lost over the period? About $7 billion. All on paper, of course.
The stock fell 7.6 percent Monday, marking the sharpest decline since April 2009.
A recent high of $18.35 was hit at the end of May, though shares were nearing this level just as the News of the World story broke. The stock hit a near-term high at $18.13 as of July 5th.
One RBC analyst sees the slide as being out of proportion based on reports of the hacking and also the delay of the BSkyB acquisition.
U.K.'s Deputy Prime Minister, Nick Clegg, told Murdoch to reconsider the BSkyB offer following the hacking allegations. But News Corp stated Monday it anticipates getting regulatory approval for the acquisition.
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