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According to WSJ, Rupert Murdoch has proposed a recombination of Fox Corp. (FOX) and News Corp (NWS)

  • October 16, 2022

POTENTIAL DEAL DETAILS

Stock News Corporation Symbol NWS
Date Announced 10/14/2022 Source Wall Street Journal
Type News Report

Rupert Murdoch, executive chairman of News Corp and chairman of Fox Corp. has proposed a recombination of Fox Corp. (FOX) (FOXA) and News Corp (NWS), the two wings of his media empire, nearly a decade after they split, according to people familiar with the situation.

Update(s):

November 20, 2022: Activist investor, Irenic Capital Management escalated its pressure on News Corp, (NWS)asking it to reconsider a proposal by Rupert Murdoch to combine the two parts of his media business, News Corp and Fox (FOX) (FOXA).

January 24, 2023: Rupert Murdoch withdrew a proposal to reunite News Corp (NWS) and Fox Corp (FOX) (FOXA) as the company is also exploring a sale of Move Inc, which operates the Realtor.com website, to CoStar Group, according to a regulatory filing and sources familiar with the process.

 

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