Rupert Murdoch pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn't coming at the right time for shareholders.
FILE - Rupert Murdoch introduces Secretary of State Mike Pompeo during the Herman Kahn Award Gala, in New York, Oct. 30, 2018. Rupert Murdoch has pulled the plug on a proposal to bring together his News Corp. and Fox Corp., saying the merger wasn't coming at the right time for shareholders. In similar statements Tuesday, Jan. 24, 2023, the companies said their boards received letters from Murdoch withdrawing the plan.
NEW YORK — Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn’t coming at the right time for shareholders. “Mr. Murdoch indicated that he and Lachlan K. Murdoch have determined that a combination is not optimal for shareholders of News Corp. and Fox at this time,” the statements said.
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