News Corp. Rises on Plan for New Unit

News Corp. shares are rising after an the company said it would form a new portal to share content between its properties.
Author:
Publish date:

Updated from 1:18 p.m. EDT

News Corp.

(NWSA) - Get Report

shares rose Wednesday after an announcement the previous day that the company would form a new portal to share content between its news properties.

John Moody, executive vice president of news editorial for Fox News, will oversee the portal, which will make use of content from such outlets as

The Wall Street Journal

and Fox News, among others. Of some interest to investors -- and to News Corp.'s roughly 64,000 employees -- Moody also will work to "identify areas of cost savings," according to a news release.

News Corp. shares rose 1.8% to close at $7.53.

New York Times

(NYT) - Get Report

shares rose 4.7% to $5.74.

A.H. Belo

(AHC) - Get Report

shares rose 6.1% to $1.73.

Gannett

(GCI) - Get Report

shares climbed 6.7% to $3.49.

Washington Post

(WPO)

rose 2.4% to $396.90.