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Rupert Murdoch withdraws proposal to merge Fox Corp. and News Corp

wsj

3 min read . Updated: 25 Jan 2023, 06:51 PM IST Jeffrey A. Trachtenberg, The Wall Street Journal

The report comes of Sinclair TV stations’ sale comes less than a month after Rupert Murdoch-owned Fox agreed to sell its film, television and international businesses to Walt Disney. Photo: Reuters

Special committees of the media companies’ boards had been reviewing Murdoch’s proposal

Rupert Murdoch called off his effort to merge the two parts of his media empire, News Corp and Fox Corp., saying the transaction “is not optimal" for shareholders of the companies at this time.