Fox will pay $725 million to the National Geographic Society in a new media entity, called National Geographic Partners. It will be 73% owned by Fox and 27% owned by the National Geographic Society.
National Geographic Partners will combine the National Geographic television channels with other media, including: National Geographic magazines; National Geographic Studios, books, travel, location-based entertainment, catalog, licensing and ecommerce businesses.
Previously, Fox and National Geographic Society had two joint ventures -- one for U.S. TV and one for international TV. Fox had a 70% stake; with the NGS controlling 30% for each of the deals.
Declan Moore, who is a chief media officer of the Society and a 20-year veteran, will be chief executive officer of National Geographic Partners. Gary Knell, president/chief executive officer of the National Geographic Society, will be chairman of the board of directors for the unit.
Fox and the Society will have equal representation on the board.
As of February 2015, National Geographic Channel had 86.1 million pay TV subscribers.
In prime-time viewing, Nat Geo Channel earned 537,000 viewers in July, up 1% over a year ago and, for total day viewing, 265,000 viewers in July 2% higher from the year before.