
Fox Corp. could be looking at another attempt to re-merge with
News Corp, according to a Reuters report.
This came from a released document of a June court proceeding. At the time, an attorney for Fox Corp. CEO Lachlan Murdoch said, with regard to a
recombination of Fox and News Corp, that it is “something that still could happen in the future.”
Responding to inquiries by Television News Daily, a Fox representative
said: "The references in the court records concerned a potential merger considered in 2022. There have been no merger discussions between FOX and News Corp since then.”
In 2023, Lachlan and Rupert Murdoch, the longtime founder and CEO of 20th Century Fox, tried to re-merge the company, which had been split up 10 years earlier.
However, institutional investors and Murdoch family members argued against it, saying it would hurt shareholder value of both companies.
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In 2013, Rupert Murdoch's longtime media company
20th Century Fox split into two publicly traded companies -- 21st Century Fox (entertainment, broadcasting) and News Corp (publishing, newspapers) including The Wall Street Journal and
The New York Post.
Then in 2019, the Fox company was pared down again, selling virtually half its company to Walt Disney for $71.3 billion. This includes selling its movie studio
operations, some cable TV networks (FX Networks, FXX, National Geographic Channel) and its 30% stake in Hulu.
This left the current company -- Fox Corp. -- with the Fox Television Network, its
owned TV stations, cable networks Fox News Channel/Fox Business, and Fox Sports, among other assets.
Recently Fox Corp. struck a $22 billion deal to purchase the major streaming distributor
platform Roku, which would enable it to gain access to some 100 million monthly active U.S. streaming users.
This story has been updated.