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Rupert Murdoch will not be combining his two media companies, Fox and News Corp.
He made the decision in a letter sent to News Corp.'s board of directors, the company said in a press release. The high-profile media billionaire withdrew his proposed merger and indicated that he and his son, Lauchlan Murdoch, determined that it was "not optimal for shareholders of News Corp and FOX at this time," according to the statement.
The companies had revealed the existence of merger talks in October. The...
>>> Read more: Rupert Murdochâs Fox and News Corp. merger falls apart after the Australian billionaire withdraws his proposal to combine them
He made the decision in a letter sent to News Corp.'s board of directors, the company said in a press release. The high-profile media billionaire withdrew his proposed merger and indicated that he and his son, Lauchlan Murdoch, determined that it was "not optimal for shareholders of News Corp and FOX at this time," according to the statement.
The companies had revealed the existence of merger talks in October. The...
>>> Read more: Rupert Murdochâs Fox and News Corp. merger falls apart after the Australian billionaire withdraws his proposal to combine them
