One source told Insider late Friday,"The rumor has been bouncing around for the past three weeks," and speculated that a consolidation would likely mean future job cuts.
Fox employs 10,600 employees, according to the 2022 annual report, while News Corporation employs 25,500.Another source said,"I've heard for a while that he wanted to rejoin them now that Fox is much smaller."The two companies separated in the wake of the News of the World hacking scandal, which involved private detectives working with reporters to hack phones of story targets.
At the time, the company's publishing services went into a new, publicly traded company that retained the name News Corp. While the television and film assets were renamed under a private company called 21st Century Fox,to The Journal. In 2019, 21st Century Fox closed a deal to sell most of its assets to Disney for $71.3 billion.
The latter was eventually renamed as Fox Corp, and now owns Fox News, Fox Broadcast network, local television stations, and the Tubi streaming service. The company is currently helmed by Murdoch's son, Lachlan. Insider that"it's a terrific job." He added,"It's one I look forward to for decades and decades into the future."
Murdoch, now 91 years old, is an Australian born businessman who has transformed the media industry over the past several decades. His empire reaches viewers and readers around the world.with Insider, Lachlan Murdoch said of his father,"He's just an inspirational thinker and someone, who, when you talk to him, as I do a lot, he's always inspiring in his inquisitiveness.
It still won't be a news company.
Trying to form new company to outrun the lawsuits?
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