Key facts
- Rupert and Lachlan Murdoch are considering a re-merger of Fox Corp and News Corp.
- The potential recombination was revealed through unsealed court documents and testimony related to a family succession dispute.
- Rupert Murdoch had previously split the companies less than 10 years before becoming interested in recombining them.
- An initial attempt to merge failed after investors expressed concerns.
- Fox Corp and News Corp declined to comment on the potential re-merger.
- The family dispute involved Rupert Murdoch's attempt to alter the family trust to give Lachlan control, leading to a settlement where Lachlan became heir.
Rupert Murdoch and his son Lachlan Murdoch are reportedly considering a re-merger of their media companies, Fox Corp and News Corp. This potential recombination, aimed at consolidating family control over their media empire, was revealed through unsealed court documents and testimony related to a contentious family succession dispute that began in late 2023.
Rupert Murdoch, who previously split the companies less than a decade ago, expressed interest in reuniting them in 2022. Court filings indicate he drafted a letter to the boards stating the family trust would oppose any alternative sales or mergers. When his daughter Elisabeth questioned the move, Rupert reportedly threatened to force the merger through. The initial attempt failed due to investor concerns, but recent court proceedings suggest a renewed effort could be underway.
An attorney for Lachlan Murdoch argued in a June hearing that discussions about the merger should remain confidential, as it is an ongoing possibility. Fox Corp and News Corp have declined to comment on the matter. The proposed merger would bring together diverse assets including Fox News, the Fox broadcast network, The Wall Street Journal, The Sun, and the New York Post.
Fox Corp, under Lachlan Murdoch's leadership, recently acquired the streaming platform Roku for $22 billion, signaling an effort to expand digital reach amidst declining traditional television viewership. The original split of the Murdoch empire in 2013 followed a hacking scandal at his UK newspapers, which threatened his business. At the time, Murdoch separated the more profitable television business from his newspaper operations, a move that was positively received by investors.
The court findings were made public after several news organizations petitioned for the release of proceedings. The family dispute escalated when Rupert Murdoch attempted to alter the family trust to grant Lachlan effective control, excluding three of his children. Although the family settled the dispute last year, fresh comments from Rupert Murdoch have emerged, emphasizing the long-standing family control of the business and his desire to prevent the assets from falling into 'the wrong hands'.