Witnessing up-and-down stock swings for 21st Century Fox stock at the end of the week, senior Fox executives issued a memo to staffers talking about “a possible transaction.”
The memo came from Rupert Murdoch, executive chairman, Lachlan Murdoch, executive chairman, and James Murdoch, CEO.
“While we can’t comment on market speculation, we do want to address the impact we know this is having on all of you. Uncertainty always breeds unease. In every way, our focus is on our businesses and on the welfare of all our colleagues.”
On Friday, Fox’s mid-day stock price was down 2.3% to $33.40. The day before, Fox was up 3% to close at $34.18.
Strong speculation is that Fox will be making radical changes to its company -- selling off its TV-movie production studio, FX cable networks, and its 30% stake in digital video platform Hulu, among other assets.
Media analysts speculate that the deal could be worth $50 billion to $60 billion.
Fox would keep the Fox Broadcasting Network, TV stations and various sports and news properties -- its Fox News Channel, Fox Business Network, and its regional sports networks.