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Murdoch withdraws proposal to merge Fox and News Corp


He wanted to unite his newspapers and TV stations under one roof and revive his media empire in its former glory. Now mogul Rupert Murdoch's plans have apparently failed due to resistance from investors.

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Rupert Murdoch 2019

Photo: Mary Altaffer/AP

Media mogul Rupert Murdoch has scrapped the idea of ​​remerging his entertainment company Fox with his publishing company News Corp.

to unite.

A combination is currently “not optimal” for shareholders, Fox said.

Murdoch has his holdings in newspapers such as the New York Post, the Wall Street Journal and the London Times at News Corp.


Its TV stations are hosted by the Fox network, which is known for its right-wing talk shows.

Until 2013, Murdoch's corporate empire was under one corporate umbrella, then it split up in the wake of the wiretapping scandal at his British tabloid flagship "News of the World".

Proposal met with criticism

In October, Murdoch had proposed a reunion.

As reported by the Reuters news agency, he argued that combining the publishing and entertainment brands would give the combined company greater reach in the areas of news, live sports and information.

The proposal was with major investors from News Corp.

however, met with criticism.

According to Reuters, no offers have been made between News Corp.

and Fox have been exchanged.


Source: spiegel

All business articles on 2023-01-24

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