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News Corp won't be selling Realtor.com parent Move to CoStar

News Corp’s talks to sell the parent of Realtor.com to CoStar Group Inc. have ended without a deal.  CoStar CSGP, -1.99% had been in talks to purchase Move Inc. from News Corp NWSA, -3.89% for about $3 billion.  But CoStar Chief Executive Andy Florance said on a conference call to discuss his company’s results late Tuesday that it is not acquiring
Financial Press

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news-corp-won't-be-selling-realtor.com-parent-move-to-costar

News Corp’s talks to sell the parent of Realtor.com to CoStar Group Inc. have ended without a deal. 

CoStar CSGP, -1.99% had been in talks to purchase Move Inc. from News Corp NWSA, -3.89% for about $3 billion. 

But CoStar Chief Executive Andy Florance said on a conference call to discuss his company’s results late Tuesday that it is not acquiring Move after all. 

The deal would have put CoStar into head-to-head competition with Zillow Group Inc. Z, -5.10%  for leadership in the online marketplace where most Americans look to buy and sell homes. 

Shares of CoStar tumbled in extended trading Tuesday after the company reported weaker-than-expected results for the quarter ended Dec. 31. 

News Corp owns The Wall Street Journal and MarketWatch.

An expanded version of this report appears on WSJ.com.

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