Rupert Murdoch scraps proposal to combine Fox, News Corp By Reuters

© Reuters. FILE PHOTO: Tennis – US Open – Mens Ultimate – New York, U.S. – September 10, 2017 – Rupert Murdoch, Chairman of Fox Information Channel stands earlier than Rafael Nadal of Spain performs in opposition to Kevin Anderson of South Africa. REUTERS/Mike Segar/File Photograph

(Reuters) – Fox Corp mentioned on Tuesday that Rupert Murdoch had scrapped a proposal to mix the corporate with Information Corp (NASDAQ:) in a deal that might have reunited the media empire he break up almost a decade in the past.

Murdoch despatched a letter to Information Corp and Fox withdrawing his proposal to re-unite the businesses, in keeping with a regulatory submitting. He indicated that he and his son, Fox Corp Chief Govt Lachlan Murdoch, had decided that the mix is “not optimum” for shareholders.

Outstanding Information Corp buyers have been crucial of the proposal.

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