Tracey Fellows has been named Acting CEO of Move, operator of realtor.com®, while a search for a new Chief Executive is underway. 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 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, 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. 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.
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.
SOURCE News Corp
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