News Corp announced today that Mr. Ryan O’Hara will be departing as
Chief Executive Officer of Move, Inc., effective June 18. Mr. O’Hara is
taking on a new chief executive position in another industry.
Ms. Tracey Fellows has been named Acting CEO of Move, operator of realtor.com®,
while a search for a new chief executive is underway. Ms. Fellows will
continue to serve as News Corp’s President of Global Digital Real Estate
and lead the development of the fastest growing sector in the company.
News Corp is a global leader in digital real estate. Since the creation
of the new News Corp in 2013, Digital Real Estate Services 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 for News Corp in
Fiscal Year 2018, which made it the largest contributor to the company’s
profitability.
“Ryan has transformed realtor.com®,
overseeing a period of remarkable growth, with revenues more than
doubling during his tenure,” said Robert Thomson, Chief Executive of
News Corp. “Ryan and the talented team have helped realtor.com®
more than triple the number of unique users since our acquisition
less than five years ago, reaching an all-time record of more than 73
million in May.”
“I wish Ryan all the very best with his next challenge and have no doubt
that Tracey will be a brilliant leader at realtor.com®
while she is at the helm. Tracey’s impact on our digital real
estate operations has already been profoundly positive as she has
brought extra verve and vision to the businesses.”
“I am grateful to Rupert Murdoch, Robert Thomson and News Corp for
affording me the opportunity to lead five different businesses on two
continents over two stints with this great company,” said Mr. O’Hara.
“My time at Move has been especially rewarding both professionally and
personally. I am proud of the business results and the many great
professionals I worked with who helped achieve them. There is no doubt
that realtor.com®
is smartly positioned for an even brighter future.”
“From the expansion of revenues, audiences and engagement, to the launch
of new products and the acquisition of Opcity, Ryan and everyone at Move
have done so much to put realtor.com®
on a path to ever greater accomplishment in the future,” said Ms.
Fellows. “We wish Ryan every success in his next venture, and it will be
an honor to work so closely with the great team he’s assembled.”
In October, 2018, Move completed its acquisition of Opcity, a leading
real estate technology platform that matches qualified home buyers and
sellers with real estate professionals in real time. The acquisition
broadens realtor.com®’s
lead generation product portfolio to include Opcity’s concierge-based
model.
Before taking on the position of President of Global Digital Real Estate
in January, Ms. Fellows served as Chief Executive Officer of REA Group,
where she oversaw a rapid expansion of the digital real estate business
in Australia and Asia, while also leading the company’s investments in
India and North America. Ms. Fellows continues to serve as a director on
REA Group’s board. REA Group, in which News Corp owns a 61.6% interest,
has a 20% stake in Move.
Mr. O’Hara became CEO of Move in January, 2015. Earlier in his career,
he worked in several News Corporation businesses. News Corp acquired
Move in November, 2014.
About News Corp
News Corp (NASDAQ:NWS)(NASDAQ:NWSA)(ASX:NWS)(ASX: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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