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Communication Services : Media | Mid Cap Value
Company profile

News Corp is a media and information services company. The Company has businesses across a range of media, including news and information services, subscription video services in Australia, book publishing and digital real estate services. Its segments include News and Information Services, Subscription Video Services, Book Publishing and Digital Real Estate Services. The News and Information Services segment includes its global print, digital and broadcast radio media platforms. Subscription Video Services segment provides video sports, entertainment and news services to pay-tv subscribers and other commercial licensees. Book Publishing segment consists of HarperCollins, a consumer book publisher with operations in approximately 17 countries and particular strengths in general fiction, nonfiction, children’s and religious publishing. Digital Real Estate Services segment consists of the Company’s interest in REA Group and interest in Move.

Closing Price
$11.63
Day's Change
0.08 (0.69%)
Bid
--
Ask
--
B/A Size
--
Day's High
11.68
Day's Low
11.53
Volume
(Light)
Volume:
249,809

10-day average volume:
602,393
249,809

Marijuana producer Canopy Growth cuts 500 jobs, shuts down facilities

4:53 pm ET March 4, 2020 (MarketWatch)
Print

Canopy Growth Corp. (WEED.T) said late Wednesday that it was shutting down two of its cannabis-production facilities in British Columbia, and eliminating roughly 500 related jobs. Canopy also said that it no longer planned to begin production in a third facility in Ontario. U.S.-traded shares of Canopy fell more than 1.4% in the extended session. The company said that it expects to record a pre-tax charge of C$700 million to C$800 million related to Wednesday's announcement and additional changes to the company. The British Columbia greenhouses account for three million square feet and began operating in February 2018. Canopy said that its outdoor production now offers a cheaper way to grow marijuana than greenhouses and blamed the recreational market's "slower than anticipated development" for creating "working capital and profitability challenges across the industry." Canopy Growth stock closed up 2.4% to $17.75, as the S&P 500 index gained 4.2%. The Cannabis ETF (THCX) gained 4.9% in Wednesday trading.

-Max A. Cherney; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 04, 2020 16:53 ET (21:53 GMT)

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