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News Corp. is giving CEO Robert Thomson a long-term contract extension, a deal that should keep the executive at the helm of the company as it pursues new AI deals, and continues its digital transformation. Thomson, who has led News Corp. since 2013, signed a deal that will keep him as CEO through June 2030….
News Corp has completed the sale of Australian media company Foxtel Group to DAZN Group, the companies said on Wednesday. News Corp and Aussie telecom giant Telstra had struck the deal with the sports streaming platform late last year. The transaction is worth about $2.1 billion. The completion of the deal follows DAZN receiving approval…
Wednesday marks Rupert Murdoch‘s last day as chairman of News Corp., the publishing company that formed his initial entry into the U.S. market nearly 50 years ago. His son Lachlan Murdoch, the CEO of Fox Corp., will assume the role of chairman in his place. But he told shareholders of the company that he does…
Rupert Murdoch’s American media empire was forged in dealmaking. The mogul transformed a regional newspaper business into a juggernaut through acquisitions, perhaps most notably the 20th Century Fox Film Corp. in 1985 and Dow Jones (owner of The Wall Street Journal) in 2007. But he also knew when to sell. Murdoch split his companies in…
Business leaders retiring from executive roles at the age of 92 don’t typically come as much of a surprise — unless the person stepping aside is a media mogul called Rupert Murdoch. After Fox Corp. and News Corp. said on Thursday that Murdoch would step aside as chairman of both his companies, effective as of the…
News Corp. Abandons Talks to Sell Real Estate Business to Rival News Corp. has ended discussions with CoStar Group, the parent company of rental listing site Apartments.com, for the sale of its real-estate listing business Move Inc., the companies said on Tuesday. A potential sale of Move Inc., which runs the listing site Realtor.com, began…
Fox-News Corp. Merger Dead as Rupert Murdoch Says Deal “Not Optimal” For Shareholders The proposed merger of Fox Corp. and News Corp. is dead, after Rupert Murdoch sent a letter to the boards of the companies withdrawing his proposal to reunite his media empire. “In withdrawing the proposal, Mr. Murdoch indicated that he and Lachlan…
“Fox Corp., News Corp will stay at Midtown HQ for another 20 years” If “work from home” is the future trend, home will mean 1211 Sixth Avenue for Fox Corp. and News Corp for 20 more years to come. In a major boost to the Midtown office market, Fox and News Corp signed separate leases…
“The Guardian newspaper offices close after ransomware attack” A leading British newspaper hit by a suspected ransomware attack last month told workers it will keep its offices closed for another three weeks, according to a published report. The Guardian — which is headquartered in London and has offices in New York and Australia — has…
“News Corp narrowly misses first-quarter revenue estimates” News Corp, owner of The New York Post, Wall Street Journal and Dow Jones, narrowly missed first-quarter revenue estimates Tuesday, due in part to foreign currency fluctuations. According to the New York-based company, total revenue decreased 1% to $2.48 billion in the quarter ended Sept. 30, while analysts…