Rupert Murdoch has scrapped a proposal to mix Fox Corp with News Corp in a deal that will have reunited the media empire he cut up almost a decade in the past.
Murdoch despatched a letter to News Corp and Fox withdrawing his proposal to reunite the businesses, in accordance with a regulatory submitting.
He indicated that he and his son, Fox Corp chief govt Lachlan Murdoch, had decided that the mixture was “not optimal” for shareholders.
Prominent News Corp traders have been essential of the proposal.
