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Rupert Murdoch is considering a Fox and News Corp merger

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Rupert Murdoch, 91, is the executive chairman of News Corp and chairman of Fox. He started building a global media giant from a single newspaper in Australia.

Along the way, he acquired the Fox movie studio and launched the Fox Broadcasting Network. Other acquisitions include Dow Jones & Co, publisher The Wall Street Journalin 2007, as well as some of Britain’s most widely read newspapers.

The newspaper business has begun to collapse in the digital age, but publications have lost most of their online advertising. Splitting the company’s print and entertainment businesses in 2013 allowed investors to independently value the faster-growing cable TV business, including channels such as Fox News, FX and Nat Geo.

More recently, cable television has been challenged by streaming services such as Netflix, which are pulling away millions of viewers. After failing to expand by acquiring Time Warner in 2014, Murdoch finally decided to sell his entertainment assets to Disney in 2017.

Combining the two businesses could give the Murdochs a wider range of investment opportunities. Fox has a market capitalization of about $16.7 billion ($26.9 billion), while News Corp has a market capitalization of about $9.14 billion ($14.7 billion).

It could also consolidate power for son Rupert Lachlan, 51, who is co-chairman of News Corp. He is also the executive chairman and chief executive officer of Fox. News Corp sources have revealed that Murdoch is ready to take over any combined entity if the merger goes through.

News Corp shares rose 3.9 percent to US$16.21 in after-hours trading after the rally. Fox lowered himself a little.

From Bloomberg

https://www.watoday.com.au/business/companies/rupert-murdoch-is-considering-reuniting-fox-news-corp-20221015-p5bpzs.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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