Rupert Murdoch scraps proposal to combine Fox, News Corp

Published by
Reuters

By Greg Roumeliotis (Reuters) -Rupert Murdoch withdrew a proposal to re-unite News Corp and Fox Corp, indicating that he and his son Lachlan Murdoch, Fox Corp’s head, determined that a combination of the companies was “not optimal” for shareholders, according to a regulatory filing on Tuesday. The deal would have reunited the media empire Murdoch split nearly a decade ago. No offer was exchanged between News Corp and Fox Corp before merger deliberations were abandoned, according to sources familiar with the process, who said pushback from News Corp shareholders played a role in those plans bei…

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