- Rupert Murdoch has killed his idea to reassemble his media empire , ending the proposal to re-merge News Corp. ( NASDAQ: NWS ) ( NASDAQ: NWSA ) with Fox Corp. ( NASDAQ: FOX ) ( NASDAQ: FOXA ).
- Murdoch sent a letter to the News Corp. board withdrawing the plan.
- Murdoch suggested that he and son Lachlan Murdoch (co-chairman of News Corp. and executive chairman/CEO at Fox) determined "a combination is not optimal for shareholders of News Corp and Fox at this time."
- News Corp. has dissolved its special committee looking into the combination, and Fox has done the same.
For further details see:
Murdoch calls off plan to re-merge Fox, News Corp.