Rupert Murdoch, Anna Torv
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Expansion
World’s leading media tycoon Rupert Murdoch has proposed the merger of Fox Corp and News Corp, the two split entities of his media empire. The proposal comes after a decade of splitting up of the two companies. An expert related to this matter has disclosed this.
Recently, a special board committee has been set up by both Murdoch’s media companies to draft this potential deal. According to sources, this committee will study the possibilities of the deal and the financial terms and conditions. According to the experts of the case, this process is still in the initial stage.
If the above two well-known companies of Rupert Murdoch are merged, then their entire media business will come under one roof. Notably, Fox Corp. owns a number of local local TV channels and the Tubi streaming service, in addition to Fox News and Fox Broadcast Network. On the other hand, News Corp. is the parent company of Dow Jones, the publisher of The Wall Street Journal. In addition, the company operates HarperCollins Publishers and News Institute in the UK and Australia.
Rupert Murdoch is the executive chairman of News Corp while Fox is the chairman of Corp. His son Lachlan Murdoch is the co-chairman of News Corp and the executive chairman and chief executive of Fox.
According to securities filings from the two companies, the Murdoch Family Trust has a voting stake of about 39% in News Corp and about 42% in Fox Corp. Trust ownership of the combined company is expected to remain roughly around these levels.