Can Rupert Murdoch take an online fixer-upper and turn it into a digital real estate profit spinner? We’re about to find out.
Murdoch’s News Corp. plunked down $864 million in cash and assumed $88 million in costs in November to acquire Realtor.com’s parent company, Move Inc., setting up a testy head-to-head rivalry with the unmatched king of online home-sales information, Zillow Group Inc. Zillow has bounded to the top in part because of a feature that includes price estimates for almost every house in America.
