The proposed merger of Fox Corp. and News Corp. is dead, after Rupert Murdoch sent out a letter to the boards of the business’s withdrawing his proposition to reunite his media empire.
” In withdrawing the proposition, Mr. Murdoch suggested that he and Lachlan K. Murdoch have actually figured out that a mix is not ideal for investors of News Corp and Fox at this time,” according to a declaration from News Corp.’s board. “As an outcome of this action, the Unique Committee of the Board of Directors of News Corp has actually been liquified.”.
More to come
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