Time for News Corporation to Strike a Balance between Transformation and Capital Management
No-moat-rated News Corporation's fiscal 2017 fourth-quarter EBITDA of USD 219 million was in line with our estimate, but the quality of the result was subpar. Even after adjusting for one less trading week in the quarter compared with a year ago, news and information services suffered an estimated 32% EBITDA fall to USD 103 million, while book EBITDA slumped an estimated 18% to USD 39 million. Add to that another USD 509 million in abnormal charges--primarily impairment and restructuring of U.K....
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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