Starboard Pushes News Corp. to Spin Real Estate Arm (1)

Activist investor Starboard Value LP, which has built a position in News Corp., wants the Murdoch-family controlled media giant to separate its Australian real estate business.

News Corp. is “significantly undervalued” and unloading its 61% stake in REA Group Ltd. could help unlock more than $7 billion for shareholders, Starboard said in an investor presentation on Tuesday.

Doing so would also highlight the value of News Corp.’s other assets, including Dow Jones, Harper Collins, the New York Post and Foxtel, Starboard said at the 13D Monitor Active-Passive Investor Summit in New York. Dow Jones alone would be worth ...