The potential merger of the Murdoch newspaper empire and TV business would likely retain the News Corp. branding and trade on the Australian Securities Exchange, sources tell Axios. Target growth areas would include sports betting and book publishing.
. filed separate notices to securities regulators Friday stating that they had each formed committees to begin exploring a potential combination of the two companies, which were split in 2013.
Costs saved from the combination would allow for more investments into emerging businesses on both sides, including sports betting, book publishing and digital subscriptions, the sources said.Fox News Books — the publishing arm of Fox News Media — could find synergies with News Corp.'s book publishing arm, HarperCollins.
Ultimately, the logistics of how the management team will be structured will be left to the special committees, one source said. News Corp has a market cap value of $9 billion, and Fox is worth nearly $17 billion. The newly combined company would bring it closer in size to media giants like Warner Bros. Discovery, which is worth $30 billion.The potential combination of Rupert Murdoch's newspaper empire and TV business, after breaking them apart nearly a decade ago, could signal a cold winter ahead for traditional media companies.
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