News Corp to Buy Oil Price Information Service for $1.15 Billion

News Corp said it expects to get an estimated tax benefit of $180 million as part of the deal.



Photo:

SOPA Images/Zuma Press

News Corp

NWS 1.62%

has agreed to buy

IHS Markit Ltd.

’s Oil Price Information Service, an energy and renewables information-services company, and related assets for $1.15 billion in cash, the latest addition to the company’s growing portfolio of publications catering to investors.

The businesses being acquired also include Coal, Metals and Mining, which provides information about coal and other raw materials pricing, and PetroChem Wire, a provider of pricing for petrochemicals and plastics, the companies said Monday.

S&P Global Inc.

in late 2020 agreed to buy IHS Markit for about $44 billion, a landmark deal that would combine two of the largest providers of data to Wall Street.

S&P Global and IHS Markit in May said they were exploring the sale of the assets following feedback from regulators. They said they expect the deal to close following the combination in the fourth quarter.

News Corp, which owns The Wall Street Journal, HarperCollins Publishers and news organizations in the U.K. and Australia, among other assets, said the assets will become part of Dow Jones’ professional information business, which includes Dow Jones Risk & Compliance, Dow Jones Newswires and Factiva.

News Corp said it expects to get an estimated tax benefit of $180 million as part of the deal.

News Corp in March said it agreed to buy for $275 million digital-first financial news and research publisher Investor’s Business Daily, which is now operated by Dow Jones. It also agreed to buy the consumer arm of educational publisher Houghton Mifflin Harcourt Co. for $349 million.

Write to Dave Sebastian at [email protected]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the August 3, 2021, print edition as ‘News Corp Buys Energy Data Service From IHS Markit for $1.15 Billion.’