The acquisition gives News Corp. rights to media brands like Talksport, which has the audio rights for the popular Premier League and FA Cup soccer matches.
News Corp. is a diversified media and information services company based in New York City. The company distributes the Wall Street Journal, among other publications.
"News Corp. believes that Wireless represents an excellent strategic fit with its existing operations, broadening News Corp's range of services in the U.K., Ireland and internationally," the company told Bloomberg.
The turn toward digital, audio and international acquisitions is intended to supplement News Corp.'s struggling print business. Revenue has dropped for their print publications as most readers transition to online news media.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C-.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins.
However, TheStreet Ratings also finds weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: NWSA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.