News

Murdochs scrap potential News Corp and Fox combination; ‘not optimal for shareholders’

Calum Jaspan

January 25, 2023 8:45

News Corp has told investors it has pulled its proposal to combine the company with Fox Corporation after its chairman, Rupert Murdoch and co-chairman, Lachlan Murdoch deemed it bad timing for shareholders.

In an announcement on the Nasdaq from its board of directors, the statement said that a letter was received from Rupert Murdoch, indicating that both he and son had “determined that a combination is not optimal for shareholders of News Corp and Fox at this time”.

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Calum Jaspan was news editor at Mumbrella, based in Melbourne. He was also the producer and host of the Mumbrellacast. He left Mumbrella in May 2023.

Topics

Fox Corp Lachlan Murdoch News Corp Rupert Murdoch

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