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Murdoch Buys Out Fox Shareholders

Murdoch Buys Out Fox Shareholders

The New York Times reports that Rupert Murdoch is “consolidating his global media empire in the United States” and announced plans to buy out the shareholders of his Fox properties for about $6 billion.
“The deal would solidify Mr. Murdoch’s control over some of the nation’s most valuable media assets like the Fox broadcast network and the DirecTV satellite service,” the Times reported, “and help simplify the complicated structure of the News Corporation, whose far-flung operations include newspapers, television, film and satellite assets around the globe.”
The Times said the transaction “would also make Mr. Murdoch’s company an even more formidable media power in the United States.”