According to the Financial Times Rupert Murdoch wants to combine Fox and News Corp. in a merger that would bring together the owners of The Wall Street Journal’s parent company and the television network Fox News.
In an effort to achieve scale in a competitive and consolidating media industry, the 91-year-old media baron has proposed the merger of the two businesses in an all-stock deal.
According to sources, the boards of Fox and News Corp have been debating a merger over the past few weeks and have formed special committees made up of independent members to assess the merger.
The action was taken ten years after Murdoch divided his empire, claiming that his newspaper and television interests would be better managed as separate entities.
