{
  "docId": "019dd923-622b-71dc-a6da-48381ed99850",
  "docSlug": "da3c4d23871a",
  "documentTitle": "Multiple (GoDaddy, News Corp, Fortrea) (GDDY, NWSA, FTRE)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-10-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 35,
  "pageCount": 70,
  "prevPage": 34,
  "nextPage": 36,
  "slideType": "valuation_reveal",
  "function": "show_valuation_bridge",
  "density": "dense",
  "nDataPoints": 2,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "big_number",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-48381ed99850/35",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-48381ed99850#slide-35",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 1,
        "x": 0,
        "y": 0.9
      },
      "kind": "callout",
      "text": "We believe News Corp trades at an attractive valuation.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "df42d761-b0bb-4033-a472-679f48726bd2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.63,
        "y": 0.45
      },
      "kind": "metric",
      "text": "7.9x",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "825046d7-e9df-4f33-a03e-2114975154b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.37,
        "x": 0.03,
        "y": 0.31
      },
      "kind": "metric",
      "text": "$12 Billion",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ed7d7815-f081-4bb0-a601-33fc2c972b4a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBITDA multiple: 7.9x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-3f41-721f-9e49-a795f69de8e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.35,
        "x": 0.63,
        "y": 0.62
      },
      "kind": "paragraph",
      "text": "FY24E EBITDA(1) Multiple",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41df6c37-27d6-4ae0-bf4e-c10cb323589b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.37,
        "x": 0.03,
        "y": 0.7
      },
      "kind": "paragraph",
      "text": "Current Enterprise Value",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cbb4baf3-72df-4bd6-ac88-5af717afce0c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.01,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: Public company filings, Capital IQ, Wall Street consensus estimates. Market data as of October 13, 2023.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f414450-ff8b-40a4-ac35-301a4588c5ad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.03,
        "y": 0.07
      },
      "kind": "title",
      "text": "Today, News Corp's Portfolio Is Valued at $12 Billion",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "619d7524-5c83-4233-8f93-1ed64e7eb737",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "0ebec342-8959-4990-bcfd-79ce0917a10e",
      "evidence": "Valuation bridge: $12B - $8B = $4B",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 70,
      "from": 31,
      "beatId": "f3aae366-04c2-422c-93a1-96bf6d955fad",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The presentation concludes with potential impact and next steps for the companies.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}