Three widely held ASX media shares, News Corp (ASX:NWS), REA Group Ltd (ASX: REA), and Nine Entertainment Co Holdings (ASX: NEC), are trading near their 52-week lows as investor confidence in the sector weakens.
Over the past six months, the prices of the three ASX 200 media shares have tumbled between 15% and 30%. The sell-off reflects a mix of structural pressures, regulatory scrutiny, and shifting sentiment, rather than a single common trigger.
However, most analysts see upside for the media stocks. Let’s find out who they see as the winner.
News Corp
News Corp remains one of the world’s most influential media companies. The heavyweight ASX media share owns mastheads such as The Wall Street Journal and The Australian, alongside book publisher HarperCollins and digital platforms like Dow Jones.
The company’s strength lies in its premium content and subscription-led model. Paid digital news and data services have helped insulate News Corp from the worst of the advertising downturn. Its global reach and political influence also give it a unique position in public debate and policymaking.
But weaknesses persist. Traditional print remains in structural decline, and the business is still exposed to cyclical advertising markets. News Corp also faces ongoing reputational, regulatory scrutiny, and past political and governance controversies.
Strategically, News Corp is betting that trusted journalism, data-driven services, and digital marketplaces can offset legacy declines. In a fragmented media landscape, scale and trust remain News Corp’s biggest assets and its biggest tests.
The ASX media share trades at $45.77 per share at the time of writing, having lost 15% of its value in the past 6 months. Most analysts see News Corp as a buy. Their average 12-month price target is $57.38, which implies a 25% upside.
REA Group
REA Group’s decline in 2025 has been driven more by growth concerns than by any clear deterioration in its business. The ASX media share continues to dominate Australia’s online property market through realestate.com.au, retaining strong pricing power and delivering earnings growth.
Even though the share price has fallen, REA’s latest results show the business continues to grow. In the first quarter of FY26, revenue rose about 4% year on year, while profit increased roughly 5%, supported by resilient demand across its core markets.
However, caution has crept in. A fall in new national property listings has raised questions about near-term momentum, while an ACCC investigation into REA’s pricing practices, launched in May, has added regulatory uncertainty.
Even so, analysts remain largely constructive. Macquarie rates the stock neutral with a $220 price target, while UBS sees stronger upside with a $255 target. On average, broker forecasts still point to 32% upside over the next 12 months.
Nine Entertainment
Nine’s share price fall has been steeper, and not entirely for operational reasons. In May, the company sold its 60% stake in Domain and returned capital via a special dividend. When the stock went ex-dividend in September, the share price dropped 34% to reflect that payout.
Beyond the technical impact, the ASX 200 media share faces genuine challenges. The business remains heavily exposed to free-to-air television, a segment under pressure from softer advertising markets. Brokers have responded by trimming 2026 revenue forecasts from about $2.7 billion to closer to $2.3 billion.
The focus now shifts to execution. Nine must stabilise earnings from traditional media while accelerating growth across digital assets such as Stan.
Most brokers continue to rate the media stock a buy following its sharp decline. The average 12-month price target sits at $1.31, suggesting potential upside of about 16%.
The post Which ASX media share to buy: News Corp, Nine or REA Group? appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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