And, indeed, the Murdoch media assets are still voluminous: Fox, Fox News, Fox Sports, a slate of local TV stations, Tubi, Dow Jones and The Wall Street Journal, myriad U.K. and Australia news organizations, and HarperCollins, among others. Naturally, of course, Wall Street had reservations about the deal: Was there actually a commercial rationale to merging these companies? Such concerns may have been allayed had Fox Corp. and News Corp. ever made it far enough to put forward an official proposal to shareholders, or not. Barring any hiccups, the deal could close in 12 to 18 months and almost certainly generate greater value for shareholders. Media layoffs often become collective grieving sessions on Twitter, and perhaps rightfully so.

Source: CNN January 26, 2023 01:48 UTC