Gabelli Maintains Buy on News Corp.

Gabelli is out with its report today on News Corp. (NASDAQ: NWSA), maintaining Buy.

In its report, Gabelli writes, "News Corp. has historically traded at a discount to its peers due to what we characterize as the 3 'Cs': who is in Control; what will the company do with its Cash; and which businesses are Core. NWS has been embroiled in a controversy stemming from questionable journalistic practices (the hacking of voicemail inboxes at its now shuttered UK tabloid). Assuming the hacking incident is limited to the UK operations, which appears to be the case, we believe there to be a sufficient margin of safety and recommend purchase."

Shares of NWSA closed Friday at $16.87.