Rupert Murdoch Is ‘Exploring’ a Reunion of Fox Corp and News Corp
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Rupert Murdoch is considering a reunion of Fox Corp. and News Corp, the separate wings of his media empire that were split nearly a decade ago, Fox Corp. announced Friday.
The discussions are in an “early stage,” The Wall Street Journal reports, with special exploratory board committees forming on both sides, consulting with independent financial and legal advisors to evaluate a potential combination. At this time, it has not made any determination if the transaction will, indeed, happen.
A merger would bring the media empires back under one roof since Murdoch split his holdings in 2013 into News Corp, which is primarily publishing, and Fox Corp., mostly TV. Murdoch, 91, is currently executive chair of both companies. His son Lachlan is co-chair of News Corp and executive chair and CEO of Fox.
The Journal says Fox Corp. has a market cap of about $17 billion, with News Corp at $9 billion.
