News Corp shares jumped more than 4% last week (and are now up 32% so far in 2017). And it's not because its September quarter earnings were the best for some time, but because eager beaver analysts reckon it might be a player in the coming consolidation of the struggling US media sector, after US regulators changed the rules.

That's despite co-chair Rupert Murdoch telling last week's News Corp annual meeting that digital advertising "has been tremendously damaging to print" and some of his papers were struggling. It also flies in the face of what Murdoch is doing at stablemate 21st Century Fox in tantalising rivals with the suggestion he could be selling assets.