Thursday, 14 December 2017
Ruper Murdoch to reshape his media empire for a total $52.4bn (£39bn)
Rupert Murdoch has agreed to sell $52bn (£39bn) The deal includes Fox's 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, Disney announced. Fox's remaining assets, including Fox News and Sports, will form a new company. The deal ends more than half a century of media expansion by Fox owner Rupert Murdoch, who is 86 years old. “We are extremely proud of all that we have built at 21st Century Fox, and I firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace in what is an exciting and dynamic industry,” said Murdoch, executive chairman of 21st Century Fox. “We’re honoured and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building,” said Iger.