Rupert Murdoch wants to merge Fox and News Corp

Rupert Murdoch wants to merge Fox and News Corp

These people said it was unclear who would lead a joint group. it is expected that Lachlan MurdochCo-Leadership, CEO of Fox and Robert’s eldest son, said someone close to the operation said.

Fox has a market capitalization of $17 billion.For $ 9 billion for News Corp, this move comes A decade after Murdoch decided to divide his empiresaying at the time that its newspaper and television assets would be “better managed” as separate entities.

But Over the past decade, the Internet has changed the field of media business and the industry has been standardized. In 2019, Murdoch sold most of Fox’s assets to Disney, leaving the remaining group a relative fish in a conglomerate industry. Facing competition from the world’s biggest companies – Amazon, Netflix, Apple and Google – Murdoch is looking to build scale, people familiar with the matter said.

The Murdochs see opportunities for collaboration between brands of business news in Fox and News Corp., including Fox Business, Fox News, Wall Street Journal, Barron’s, MarketWatch, People familiar with the matter said.

News Corp’s board said it was evaluating the merger, but “has not made any decisions at this time.” The Wall Street Journal first reported that Murdoch was exploring a merger.

until last year, There were legal hurdles to any reconfiguration of Murdoch’s empire: As part of the terms of selling most of Fox’s assets to Disney in 2019, Murdoch hasn’t been able to sell any more for two years.. This limitation Rose in March 2021.

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