Media baron Rupert Murdoch backtracks on plan to merge Fox, News Corp: NYT
New York [US], January 25 (ANI): New York News Corp, one of Rupert Murdoch's media companies, said in a statement on Tuesday that he had determined that combining it and the Fox Corporation was "not optimal for shareholders of News Corp and Fox at this time," according to the New York Times.
The boards of both media companies disclosed in October that Murdoch had proposed reuniting the two companies, nearly 10 years after