The shocking death of soccer writer Grant Wahl has prompted an outpouring of tributes. The 48-year-old Wahl died on Friday under murky circumstances while covering the World Cup in Qatar.
23.11.2022 - 20:03 / deadline.com
A London-based investor in Rupert Murdoch’s News Corp. and Fox Corp. has reportedly expressed its opposition to the companies’ potential reunification.
Independent Franchise Partners is one of the largest shareholders apart from the Murdoch family, with stakes in Fox and News Corp. of more than 7%. The companies confirmed several weeks ago they were formally considering a potential merger, bringing assets like Fox News, the Fox broadcast network, The Wall Street Journal and Dow Jones under a single umbrella.
The news was first reported by the Journal. IFP said it told a special merger committee set up by News Corp. that it believes a combination would not realize the full value of both entities. Instead, any merger should only be pursued in co-ordination with the sale of certain holdings of News Corp., the report said.
It is the second indication of reservations about the deal among shareholders in recent days. Irenic Capital, which owns 2% of News Corp. and has taken an activist role, signaled its opposition earlier this week, citing the soft ad climate and legal liability related to the multi-billion-dollar lawsuit against Fox News filed by Dominion Voting Systems.
Reps from IFP, News Corp. and Fox did not immediately respond to Deadline’s requests for comment.
The Murdoch family controls roughly 40% of the voting rights to both companies. Fox Corp. emerged as a smaller, more TV-focused entity from a $71.3 billion deal with Disney in 2019. In that transaction, Disney acquired most of preceding corporate entity 21st Century Fox. As currently constituted, Fox Corp principal holdings include its flagship broadcast network, Fox Sports, Fox News, a portfolio of local TV stations and the Tubi streaming service. While it
The shocking death of soccer writer Grant Wahl has prompted an outpouring of tributes. The 48-year-old Wahl died on Friday under murky circumstances while covering the World Cup in Qatar.
Rupert Murdoch and the Murdoch Family Trust will not vote in favor of a Fox-News Corp. merger unless the combination has the blessing of special committees of outside directors, and of non-Murdoch affiliated stockholders.
Close call! Megan Fox barely avoided a wardrobe malfunction while wearing an ultra-mini crop top.
alive.On December 4, hit up the Audacy Beach Festival in Fort Lauderdale, Florida wearing an underboob-baring hot pink crop top, Barbie pink cargo pants, pink pointed-toed heels, and an over-the-top feathered pink hat. I don't know what occupation Mattell would use to sell this Barbie, but I have a feeling they'd find a way.
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Irenic Capital, which owns about 2% of News Corp. has taken issue with its potential merger with Fox, noting the latter’s advertising exposure and legal exposure. A combination would create a more complex company and turn off investors, instead of boosting the company’s lagging stock price, it said in a letter to the News Corp. board, suggesting, instead, a spinoff of the digital real estate business or of Dow Jones.
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