News Corp. invests in India real estate website

AP News
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Posted: Nov 24, 2014 5:09 PM

NEW YORK (AP) — News Corp. says it has invested in a real estate website in India as it tries to grow its digital business.

The New York-based media company, which is controlled by Rupert Murdoch, owns the Wall Street Journal newspaper and HarperCollins book publisher and runs the real estate website realtor.com.

News Corp. said Monday that it paid $30 million for a 25 percent stake in Elara Technologies Pte Ltd., which owns the Indian website, PropTiger.com. A News Corp. executive will join Elara's Singapore-based board.

Last year, News Corp. split its newspaper and publishing business from its more-profitable broadcast and entertainment operations, now called 21st Century Fox Inc.

Shares of News Corp. rose 29 cents to close at $15.46.