A key shareholder in Fox Corp and News Corp has reportedly expressed its doubts about the Murdoch family’s plans to reunite the two leading media firms. The reports started with the Wall Street Journal, which is part of the News Corp empire.
Lachlan Murdoch
According to insiders, Independent Franchise Partners, which controls sizeable stakes in both firms, told a special merger committee orchestrated by News Corp that it was skeptical about the ability of the merger to unlock the full value of both entities. Indeed, IFP also suggested a break up of News Corp should be considered.
IFP is not alone in questioning the merger, which is also opposed by Irenic Capital. Irenic is concerned about the soft ad market and a lawsuit involving News Corp.
The possibility of a merger was first mentioned in October 2022 and is believed to be driven by media mogul Rupert Murdoch and son…
