Fox Corporation

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Fox Corporation

logo
legal form Corporation
ISIN US35137L1052
US35137L2043
founding 19th March 2019
Seat New York City , New York , United States
United StatesUnited States 
management Lachlan Murdoch , CEO , Chair
John Nallen , COO
Rupert Murdoch , co-executive chairman
Branch media
Website www.foxcorporation.com
As of March 20, 2019

The Fox Corporation ( Fox Corp. for short and unofficially " New Fox ") is an American media company based in New York City . It was formed from the remaining part of the company following the partial purchase of 21st Century Fox (emerged from News Corporation ) by Disney and went public on March 19, 2019. Owned by the Murdoch family, who own 39% of the company's securities; CEO is Lachlan Murdoch .

The company is primarily active in television , news and sports broadcasts through the remaining portions of the 21st Century Fox that were not acquired by Disney. These include Fox Broadcasting Company , Fox Television Stations, Fox News , Fox Business Network , Fox Sports, and others.

history

founding

On December 14, 2017, The Walt Disney Company announced its intention to acquire the film, cable entertainment and satellite broadcasting divisions of 21st Century Fox . The rest of the company would form a so-called "New Fox," which would maintain control of the television network, including television networks such as Fox News Channel , as well as the domestic operations of Fox Sports and other assets. Fox's regional sports networks were to go to Disney in the sale. In May 2018 it was confirmed that Lachlan Murdoch would take over the helm of the New Fox Company in place of James Murdoch.

The merger faced an antitrust review. Disney is unlikely to own both the ABC and Fox networks due to an American directive, as this directive prohibits mergers between the leading broadcasting networks. The US Department of Justice also ordered that Fox's regional sports networks must be sold within 90 days of the Disney purchase, as Disney would become too dominant in the cable sports market with its 80 percent stake in ESPN with the additional Fox networks .

In mid-2018, Comcast launched a bidding war on Disney's proposed acquisitions of Fox and Sky plc (a company that 21st Century Fox was involved in and intended to acquire the rest). In July 2018, Fox agreed to increase Disney's offer to $ 71.3 billion to fend off Comcast's counteroffer. UK regulators ordered a blind auction to be held on Sky's assets, which Comcast won.

On October 10, 2018 it was reported that the new post-merger organizational structure of "New Fox" would be implemented by January 1, 2019 in preparation for the imminent closing of the sale. On November 14, 2018, it was announced that the new independent company will keep the original Fox name.

On March 12, 2019, Disney announced that the sale would close by March 20, 2019. On March 19, 2019, Fox Corporation officially went public in the S&P 500 , replacing 21st Century Fox in the index.

Corporate structure

Fox Corporation is divided into the following areas:

Individual evidence

  1. ↑ Cynthia Littleton: Fox Confirms It Won't Bid on Disney's Regional Sports Networks . In: Variety , January 11, 2019. 
  2. ^ 21st Century Fox Announces Pricing Of Senior Notes By Fox Corporation . January 15, 2019. Retrieved February 1, 2019.
  3. ^ A b Sue Chang: Fox Corp. to replace Twenty-First Century Fox on S&P 500 . March 14, 2019. Retrieved March 19, 2019.
  4. ↑ a b Disney’s Acquisition of 21st Century Fox Will Bring an Unprecedented Collection of Content and Talent to Consumers Around the World . In: The Walt Disney Company . March 19, 2019. Retrieved May 4, 2019.
  5. ↑ Meg James: News Corp. divides into two companies; 21st Century Fox is born (en-US) . In: Los Angeles Times , June 28, 2013. Retrieved April 19, 2019. 
  6. ↑ Cynthia Littleton: Disney to Buy 21st Century Fox Assets for $ 52.4 Billion in Historic Hollywood Merger . In: Variety , December 14, 2017. Retrieved February 8, 2018. 
  7. ↑ Jill Disis: Lachlan Murdoch, not James, will lead New Fox company . In: CNN Money . May 16, 2018. Archived from the original on May 17, 2018. Retrieved May 17, 2018.
  8. ↑ Eriq Gardner: FCC Reviewing Rule Prohibiting Mergers Among Big Four broadcast networks ( s ) on December 12, 2018. Retrieved on March 19 of 2019.
  9. ↑ Cynthia Littleton: Justice Department Approves Disney's Acquisition of 21st Century Fox With Divestiture of Regional Sports Networks . In: Variety . June 27, 2018. Retrieved June 27, 2018.
  10. ↑ Disney wins US antitrust approval to buy Fox assets . In: CNBC . June 27, 2018. Retrieved June 27, 2018.
  11. ↑ Jon Brodkin: Sorry, Comcast: Fox and Disney sign new merger deal, rejecting Comcast bid ( en-us ) June 20, 2018. Retrieved June 20, 2018.
  12. ↑ Edmund Lee: Disney Ups Its Bid for 21st Century Fox to $ 71.3 Billion (en-US) . In: The New York Times , June 20, 2018. Retrieved April 19, 2019. 
  13. ↑ Jim Waterson: Rupert Murdoch's Sky reign to end as Fox sells all shares to Comcast (en-GB) . In: The Guardian , June 26, 2018. Retrieved September 27, 2018. 
  14. ^ Daniel Holloway: Fox Will Be Ready to Close Disney Deal Jan. 1, Says Peter Rice (EXCLUSIVE) . October 10, 2018. Archived from the original on October 11, 2018. Retrieved on November 21, 2018.
  15. ^ Matt Donnelly: Official Name of New Fox Is, Uh, Fox - and Other Takeaways From Annual Stockholders Meeting . In: Variety . November 14, 2018. Archived from the original on November 14, 2018. Retrieved on November 15, 2018.
  16. ↑ Cynthia Littleton: Disney Sets March 20 Closing Date for 21st Century Fox Acquisition ( en ) March 12, 2019. Retrieved March 15, 2019.