According to Bloomberg, News Corporation’s (NWSA) Shine Group has recently acquired Bossa Studios, a London-based company, engaged in the social network gaming market since October 2010. However, the financial terms of the deal were not disclosed.
With its first digital acquisition, Shine plans to tap the highly popular social gaming market following the footsteps of CityVille of Zynga Inc. and Texas HoldEm Poker. Moreover, Shine plans to bring in money through the Bossa Studios’debut title Monstermind, on Facebook recently, by charging gamers through the Facebook’s credit method.
Earlier, Rupert Murdoch’s News Corporation agreed to acquire 100.0% stake of Shine Group, founded by his daughter, Elisabeth Murdoch, in 2001, for approximately $673.0 million but has been deferred for now.
News Corporation’s significant international presence has helped to broaden its client base and product portfolio. We believe that Shine’s acquisition is highly accretive for News Corp. as it will bring in international small screen production business along with its time tested track record of famous shows and production groups spread across numerous countries.
Shine creates many well-liked television shows and drives production groups in numerous countries. Elisabeth Murdoch possess more than 50% stake in Shine, with Sony Corporation (SNE) holding around 20%, British Sky Broadcastingaround 13%, while the remaining amount is owned by management.
Founded in 1922 and headquartered in New York, News Corporation is a diversified global media company operating under six reporting segments: Cable Network Programming (which includes STAR Group Limited); Filmed Entertainment; Television; Direct Broadcast Satellite Television; Publishing; and Other
Currently, we maintain a long-term Neutral recommendation on the stock. Moreover, News Corp. also holds a Zacks #3 Rank, which translates into a short-term Hold rating.
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