- Rupert Murdoch may consider combining Fox Corp and News Corp.
- News Corp was the first to go public after the split of the companies.
- Murdoch is 91 years old and has been in the media business for decades.
Fast a decade later than Fox and News Corp SplitRupert Murdoch, a conservative media magnate, is looking into the possibility of reuniting the two major media arms of his media empire.
News Corp said late Friday it had created a special committee in order to begin looking into a potential Fox combination. This was in response to Murdoch’s letters and the Murdoch Family Trust.
This announcement confirms an earlier Wall Street Journal report. The news brokeBoth companies have established special boards committees to assess the financial terms and evaluate potential deals. Sources say that talks are still in an early stage. TelledThe Journal.
Insider was informed late Friday by a source that “the rumor had been swirling around for the last three weeks” and speculated that a consolidation could lead to future job cuts.
According to 2022’s annual report, Fox employs 10,600 people, while News Corporation employs 25,000.
Around 9,000 News Corp employees live in the United States.
Another source stated, “I’ve known for a while that they wanted him to rejoin them now Fox is smaller.”
Until 2013, Murdoch’s holdings became part of News Corp. They split in two.
After the News of the World hacking incident, in which private detectives were working with reporters to hack the phones of their story targets’ phones, the two companies parted ways. Fox’s US investors were not happy that the TV assets were damaged by the problem. Murdoch combined the Journal and New York Post assets with Australian payTV operations and a digital estate business to separate the two ventures.
The company’s publishing services were transferred to a new publicly traded company, which retained the name News Corp. The television and film assets were renamed under 21st Century Fox. AccordingSubscribe to The Journal
Fox Corp was eventually renamed the company. It now owns Fox News and Fox Broadcast network. Tubi streaming service is also owned by Fox Corp. Lachlan Murdoch, Murdoch’s younger brother, is currently the company’s chief executive.
The younger Murdoch will be born in May 2021. TelledInsider reports that it’s “a fantastic job.” He said, “It is one that I look forward to for many decades and even decades.”
Murdoch, a 91-year-old Australian businessman, has transformed the media sector over the past few decades. His empire has reached viewers and readers all over the globe.
In his InterviewInsider’s Lachlan Murdoch shared his thoughts about his father with Lachlan. “He’s just a inspirational thinker and somebody, who, when we talk to him as I do, he’s always inspiring by his inquisitiveness.”
