SoftBank’s Son Cedes to Murdoch as Top India Home Portals Merge

Indian real-estate websites PropTiger.com and Housing.com are merging to create the country’s top portal for residential listings and property services, as Rupert Murdoch’s News Corp. boosts its investment in the growing sector while Masayoshi Son’s SoftBank Group Corp. scales back.

“This type of consolidation is very unsurprising and fits into the background story of down rounds and scarce capital,” said Sanchit Vir Gogia, founder and CEO of Greyhound Knowledge Group.

[Bloomberg] | [Washington Post] | [BloombergQuint] | [Arab Economic News] | [Yahoo] | [The Japan Times] | [Wall Street Wires]

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