The Murdoch family is tamping down its push to merge the two media conglomerates it controls after some investors seemed lukewarm to the idea. Rupert Murdoch sent letters to the board of directors …
, which his family, controlling shareholders of both, split apart in 2013.
Murdoch, and his son Lachlan, who holds senior executive posts at both companies, ” have determined that a combination is not optimal for shareholders of News Corp and Fox at this time,” News Corp. said in a statement. Murdoch in October proposed an exploration of the potential for a merger, which had to be completed by special committees of both corporations. A re-combination of the assets would have paired the Fox broadcast network, Fox News Channel and Fox Sports with the Harper Collins publishing company, the Dow Jones & Co. financial-publishing business and various newspaper holdings around the world. Even so, the entities were smaller than they once were.
The prospect of a merger of the two entities surfaced as traditional media companies find themselves under pressure to gain new scale and heft as they face competition from tech giants like Amazon, Apple and Netflix that can distribute content digitally and across the globe without the distribution restrictions that shackle linear cable and broadcast outlets. Others have felt a similar push. Shari Redstone decided in 2019 to recombine the former CBS Corp. and Viacom Inc.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Authorities arrest man accused of pistol-whipping ex, forcing her to withdraw cash from ATMAuthorities have arrested a man accused of breaking into his ex-girlfriend’s home, pistol-whipping her and forcing her to withdraw money from an ATM.
Read more »
School funding proposal aims to achieve equity, but does it go far enough?Last year, a bill would have directed more funding to the student group with the lowest standardized test scores, which would have been Black students. Instead, the governor is proposing extra money for high-poverty schools, not Black students specifically.
Read more »
Cardano (ADA) Receives Improvement Proposal: Check out DetailsFind out how CIP-30 may help Cardano adoption
Read more »
School funding proposal aims to achieve equity, but does it go far enough?Last year, a bill would have directed more funding to students with the lowest standardized test scores, which would have been Black students. Instead, the governor is proposing extra money for high-poverty schools, not Black students specifically.
Read more »
NI Protocol: Proposal to use Article 16 over vaccines a disaster - EU aideIn 2021 the European Commission proposed suspending part of the NI Protocol in a row over vaccines
Read more »