News Formal

‘Not optimal for shareholders’: Murdoch scraps proposed Fox-News Corp merger as he prepares to sell real-estate assets

  • 📰 theage
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

News Corp chief executive Robert Thomson wrote to staff to inform them of the decision by Rupert Murdoch and his son Lachlan to stop an assessment of a potential merger by an independent committee.

of his two major media companies Fox Corporation and News Corporation after conceding the proposed tie-up was not in the best interest of shareholders.

Rupert Murdoch and son Lachlan have decided that a merger is “not in the best interests of shareholders”.People familiar with those talks, who requested anonymity to speak freely, said the potential deal will be worth more than US$3 billion and was enough to have changed the prospect of a tie-up between Fox and News Corp.reports News Corp would sell the entirety of its 80 per cent stake under the plans. News Corp confirmed the plans in a statement to the ASX and NASDAQ.

“Any potential transaction would support News Corp’s strategy to optimise the value of its digital real estate services segment, while strengthening Realtor.com’s competitive position in the market,” the company said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rupert Murdoch calls off proposed Fox-News Corp mergerBillionaire mogul says in letter that proposal to reunite companies he split up a decade ago ‘not optimal’ for shareholders Wait till Dominion sues fox into bankruptcy then news corpse can acquire its assets for pennies They both peddle the same crap and lies the sooner this shunt dies the better
Source: GuardianAus - 🏆 1. / 98 Read more »

‘Not optimal for shareholders’: Murdoch scraps proposed Fox-News Corp mergerRupert Murdoch has abruptly halted plans for a potential merger of his two major media companies, deciding a tie-up was not in the best interest of shareholders.
Source: smh - 🏆 6. / 80 Read more »

Rupert Murdoch scraps $39b Fox-News mega mergerRupert Murdoch has dumped plans for a $US28 billion ($39 billion) mega merger between News Corp and Fox, which analysts and insiders believed was part of the media mogul’s plans to consolidate power in the hands of his son, Lachlan Murdoch. The emperor has no clothes?
Source: FinancialReview - 🏆 2. / 90 Read more »