Rupert Murdoch’s bid to sell online real estate business Move Inc. may hit a potential roadblock with a powerful industry group.
Murdoch’s News Corp. is in discussions to sell the business, which includes Realtor.com and other real estate-related websites, to CoStar Group Inc. for $3 billion, Bloomberg reported Tuesday.
But any deal would require negotiations with the National Association of Realtors, according to people familiar with the talks who asked not to be named because the matter is private. Move’s Realtor.com operates under an agreement and trademark license with the group.
The Realtors’ group, which bills itself as America’s ...