Tracey Fellows Named President of Global Digital Real Estate
November 14 2018 - 4:30PM
Business Wire
Will Oversee All of News Corp’s Digital Real
Estate Interests
News Corp today announced the promotion of Tracey Fellows to
President, Global Digital Real Estate, in a sign of the company’s
increasing commitment to the sector, which is rapidly growing in
both revenues and profits.
Ms. Fellows, currently the Chief Executive Officer of REA Group,
will oversee all of News Corp’s digital real estate interests.
These include Move, Inc., the operator of realtor.com®, the
majority ownership of REA Group, which includes iProperty in Asia,
and the company’s fast-expanding interests in India, which include
PropTiger and Housing.com.
News Corp is the most global digital property company. Since the
creation of the new News Corp in 2013, digital real estate revenues
have more than tripled, with the segment generating over $1.1
billion in Fiscal Year 2018. Segment EBITDA has more than doubled
during that time, accounting for 37% of reported Total Segment
EBITDA in Fiscal Year 2018, which made it the largest contributor
to the company’s profitability.
“Tracey has driven the rapid expansion of the digital real
estate business in Australia and Asia and we believe her leadership
internationally will ensure that all of our digital property
companies realize their extraordinary potential. She is an
inspiring leader who is able to bring out the best in teams and in
individuals,” said Robert Thomson, Chief Executive of News
Corp.
“Audiences, revenue and profits at REA Group have all expanded
significantly during Tracey’s tenure as CEO. She has been an
irrepressible innovator and has led the company into intelligent
adjacencies, such as financial services and property data, which
have broadened the revenue base and built a platform for future
growth.
“We are keen to capitalize on our sterling success in digital
real estate by driving even faster growth in our existing
businesses, such as realtor.com®, where Ryan O’Hara and his
team have successfully transformed the business, and in seeking out
new investment opportunities. Tracey is the perfect person to
deliver on both of those imperatives for our company and our
investors.”
Ms. Fellows will be based in New York at News Corp headquarters
from January 2019, and divide her time among the company’s digital
real estate assets, all of which have shown significant rates of
growth. She will continue to be involved in REA Group, remaining a
Director on behalf of News Corp. A successor for the Chief
Executive Officer position at REA Group, a separate listed company,
will be subject to the approval of its Board.
“It has been an absolute privilege working with the team and the
Board at REA Group,” Ms. Fellows said. “It’s one of the exciting
things about the opportunity; it allows me to take on a new
challenge while continuing to work alongside these incredible
people – all in an industry I am so passionate about. I feel very
fortunate. There could not be a more exciting time for a role like
this.
“We can clearly share lessons from around the company and
continue to raise the bar on best practices. I’m really looking
forward to working with Ryan and the team at realtor.com® and our
talented people around the world with the aim of creating amazing
property experiences for consumers globally. There is no doubt that
there are some interesting opportunities to broaden our
international reach and serve more people.”
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global,
diversified media and information services company focused on
creating and distributing authoritative and engaging content. The
company comprises businesses across a range of media, including:
news and information services, subscription video services in
Australia, book publishing and digital real estate services.
Headquartered in New York, News Corp operates primarily in the
United States, Australia, and the United Kingdom, and its content
is distributed and consumed worldwide. More information is
available at: http://www.newscorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181114005927/en/
News Corp Investor RelationsMichael
Florin212-416-3363mflorin@newscorp.comorNews Corp Corporate
CommunicationsJim Kennedy212-416-4064jkennedy@newscorp.com
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