Holy Shit!

I hinted about this rumor last week via a tweet, but didn’t know the suitor at the time.

Via Press Release: News Corp To Acquire Move, Inc.

“Under the acquisition agreement, which has been unanimously approved by the board of directors of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950 million (net of Move’s existing cash balance), via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately US$200 million. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares.”

Not a bad price, considering.

“Some of the expected key benefits of the transaction include:

-Broadened reach for Move through News Corp’s robust platform including WSJ Digital Network (approximately 500 million average monthly page views[6]) and News America Marketing (nearly 74 million households)
-Increased sales and marketing support to drive higher brand awareness and traffic
-Cross-platform promotion and audience monetization expertise
-Leverage of News Corp’s and REA’s real estate and digital expertise to drive improved product innovation, consumer engagement and audience growth
-Boost traffic and digital dwell times with high quality News Corp content”

Smart.

If Spencer Rascoff is Frank Underwood then Rupert Murdoch is the Prince Of Fucking Darkness. So things are so desperate it looks like the National Association of REALTORS literally just did a deal with the devil.

Let the games begin!