Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Authors: Warren Buffett & Charlie Munger We have spent the better part of a week tearing apart News Corporation's most recent 10-Q (quarter ended March 31, 2026, fiscal Q3 2026), reviewing the segment economics, and stress-testing the conglomerate's parts against the whole. Our conclusion is unsentimental: NWS is an average business with one extraordinary jewel buried inside it, and the holding-company structure — combined with Murdoch family voting control — prevents shareholders from fully harvesting the value of that jewel. We rate NWS ★★ (Sell). It is not a bad business in the way a structurally dying company is bad — there are real assets here.
Recent filings analysed: 8-K (2026-08-07), 10-K (2026-08-07), 8-K (2026-08-06), 8-K (2026-08-05).
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