The 91-year-old media mogul, Rupert Murdoch is deliberating on merging his companies News Corp and Fox Corporation, which he had split 10 years ago. The boards of both companies are evaluating a possible deal, according to the news reports.
According to a report by Reuters, “Combining the two could streamline leadership under Rupert’s eldest son Lachlan Murdoch, currently chief executive of Fox. Plus, the companies could probably trim overlapping costs.”
The reports stated that Murdoch’s family trust has the voting rights of approximately 39% of News Corp and about 42% of the votes in Fox Corp.
News Corp owns many global and local newspapers, including The Wall Street Journal, The Times and The Australian, Australian and American property websites and book publisher HarperCollins. Fox Corp is focused on live news and owns Fox News.
In 2017, the media baron had sold his entertainment assets to Walt Disney Co. for $80 billion.
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