Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn't coming at the right time for shareholders.
Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn't coming at the right time for shareholders.
"Mr. Murdoch indicated that he and Lachlan K. Murdoch have determined that a combination is not optimal for shareholders of News Corp. and FOX at this time," the statements said. The media mogul had sent letters to the companies' boards, which formed committees to look into a possible merger.
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