Murdoch Abandons Fox, News Corp. Merger Plans

By
published

Rupert Murdoch withdrew the proposal with a letter saying it was not in the interests of shareholders

Fox Corporation
(Image credit: Fox Corporation)

NEW YORK, LOS ANGELES—The Fox Corporation has announced that the company’s board of directors received a letter from Rupert Murdoch withdrawing the proposal to explore a potential combination of Fox and News Corporation.

The idea had come under fire from some major shareholders after it was first proposed in October of 2022. 

In withdrawing the proposal, Rupert Murdoch indicated that he and Lachlan K. Murdoch had determined that a combination is not optimal for the shareholders of Fox and News Corp at this time, Fox reported.

CATEGORIES
George Winslow
George Winslow

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.