WSJ: Rupert Murdoch may merge his media assets
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Media mogul Rupet Murdoch is considering merging Fox Corporation and News Corporation, reports The Wall Street Journal (WSJ) citing sources. Both companies have already set up ad hoc board committees to study the potential deal.
Mr Murdoch founded News Corp in 1979. In mid-2013, the businessman divided it into two companies: the first (News Corp) included all publishing assets, including HarperCollins, The Times and WSJ. The second (first called 21st Century Fox, then Fox Corporation) brought together entertainment industry assets, including 20th Century Fox and the Fox network.
According to the WSJ, while discussions about re-combining the companies are at an early stage. The Rupert Murdoch Family Trust owns about 39% of the voting shares of News Corp and about 42% of the voting shares of Fox Corp. It is expected that the share of the trust in the combined company will remain approximately at the same level.
Several sources of the publication admitted that the merger of companies will be organized in the form of a deal with shares. Instead of a merger, “strategic alternatives” could be considered, according to other WSJ interlocutors. The market value of Fox Corp. at the close of trading on October 14 was about $17 billion, News Corp. — about $9 billion.
Read about how the reporter’s son Rupert Murdoch built his media holding in the material “Kommersant” “The talented offspring of a talented dad”.
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