Here is what he said:
1. This move points out that there is lot of value in this company.
2. Chase Carey (CEO of News Corp) continues to make a very positive dent in the company.
3. This is being done in a good way which is a spin-off; it will be a tax free transaction.
4. He would like to see more details on what will happen to Dow Jones assets (including the Wall Street Journal) as he thinks that its viewership has good spill on Fox News.
5. Chase Carey will stay with the entertainment company and they have a good bench strength to take over the publishing business.
6. The stock is still cheap, selling at a price less than what it traded at five years ago.
Here is the video. Yacktman comes in after about three minutes:
Also check out:
- Donald Yacktman Undervalued Stocks
- Donald Yacktman Top Growth Companies
- Donald Yacktman High Yield stocks, and
- Stocks that Donald Yacktman keeps buying