Rupert Murdoch Considers Re-merging Fox Corporation and News Corp

Shares of Fox Corporation and News Corp saw volatile trading and volume spikes on Thursday following reports that Rupert Murdoch is considering a re-merger of the two companies. The entities were split less than a decade ago, but court documents and video testimony from a family succession case reveal Murdoch expressed interest in recombining them as early as 2022.

Documents indicate Murdoch drafted a letter to both boards stating the family trust would oppose any alternative sales or mergers. He reportedly threatened to force the re-merger through when questioned by a representative for his daughter, Elisabeth.

While investors rejected a previous attempt to combine the companies, recent court proceedings from June suggest a new attempt may be possible. An attorney for Lachlan Murdoch argued that discussions regarding the merger should remain sealed because the event could still occur.