News Corp exploring potential sale of News America Marketing business
FILE PHOTO: The Fox News electronic ticker is seen outside the News Corporation building in New York City, in New York, U.S., November 8, 2017. REUTERS/Shannon Stapleton/File Photo
(Reuters) – Wall Street Journal-owner News Corp said on Tuesday it was evaluating options for its News America Marketing (NAM) business, including a potential sale.
News America Marketing is a leading publisher of coupons in the U.S. and Canada and also provides in-store marketing products and services.
Revenue from its NAM business declined 8% to $238 million, in the March ended quarter, from a year-ago.
News Corp has retained Allen & Company LLC as its financial adviser, the company said in a statement.
Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber