The proposed tie-up, that was seen in some quarters as succession planning, is deemed 'not optimal' for shareholders.
The proposed tie-up, that was seen in some quarters as succession planning, is deemed"not optimal" for shareholders.A proposed reunion of two parts of Rupert Murdoch's empire has been abandoned by the media tycoon.
The two companies were split in 2013 in a move designed to draw a line between the-then struggling publishing businesses and its entertainment division. Several top investors had since spoken out against the idea, suggesting it could have undervalued News Corp.The proposed tie-up was seen, in some quarters, as potential succession planning by Murdoch senior to consolidate power behind Fox chief Lachlan though that prospect was dismissed as"absurd" by the company last November.
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