21st Century Fox . It is an American multinational media company. It was one of two companies formed from the 2013 division of the publishing assets of News Corporation , founded by Rupert Murdoch in 1979 . It is the legal successor to News Corporation, dealing primarily with the film and television industries.
It is the fourth largest media conglomerate in the world (after The Walt Disney Company , Comcast , and WarnerMedia ). The other company, the “new” News Corp, has the interests of print media (press and publishers). Both owned by Murdoch and his family.
The companies that are part of 21st Century Fox are Fox Entertainment Group (which owns the 20th Century Fox film production company and the Fox television network), the Asian pay-TV channel STAR, Sky plc and the National Geographic Society. .
It was put up for sale in 2017 (only the entertainment part) and bought by The Walt Disney Company for $ 52.4 billion, considered one of the most ambitious commercial agreements in the history of business.
Historical review
It emerged as a spin-off from News Corporation , the division being the entertainment and media properties. Rupert Murdoch remains the CEO and majority shareholder of the new company. Chase Carey is its President and Chief Operating Officer. News Corporation’s Board of Directors approved the group’s spin-off on May 24 , 2013 , a decision that was ratified by shareholders on June 11 , 2013 . The new company completed the spin-off on June 28 and formally went public on the NASDAQ on July 1 . Plans for the division were originally announced on June 28 , 2012, while additional details and the job name of the new company were released on December 3 , 2012 .
Murdoch affirmed that this operation of division of assets “will unlock the true value of the companies and their different assets. In addition, it will allow investors to benefit from the strategic opportunities of separate form, since it will entail a more precise management of each company”. This operation also came as a result of a series of scandals that damaged the reputation of News Corporation in the United Kingdom . The division was structured so that News Corporation’s publishing assets would be incorporated into News Corp. The remaining assets belong to 21st Century Fox, which serves as the legal successor to News Corporation.
Originally the company was called Fox Group, but Murdoch relented and announced the 16 of April of 2013 the new name 21st Century Fox to retain the important heritage of 20th Century Fox. Its logo was officially launched on 9 of maypole of 2013 , offering a Modernized take on the iconic Fox reflectors.
The creation of 21st Century Fox officially ended on June 28 , 2013 . It began trading on the Nasdaq and the Australian Stock Exchange on July 1 , 2013 .
The 8 of January of 2014 Rupert Murdoch announced the company plans to delist from the Stock Exchange of Australia, only to list on NASDAQ. Trading in Australia was a holdover from the era News Corporation, but 21 Century Fox has very little presence in Australia, unlike News Corp. Murdoch declared that the changes, which are expected to be completed in June of 2014 , are aimed at ” simplify 21 Century Fox’s operating structure. ”
In June of 2014 , 21st Century Fox made an offer to acquire Time Warner, who had turned in their editorial assets, 80,000 million dollars in cash and stock. The agreement, which was rejected by the board of Time Warner in July of 2014 , as it also would have involved the sale of CNN to alleviate antitrust issues. The 5 as August as 2014, 21st Century Fox announced that it had withdrawn its bid for Time Warner. The company’s shares had fallen sharply since the offering was announced, prompting the directors to announce that 21st Century Fox would purchase $ 6 billion of its shares over the next 12 months.
The 25 of July of 2014 , 21st Century Fox announced the sale of Sky Italia and Sky Deutschland BSkyB 9,000 million, subject to approval from regulators and shareholders. Fox would use the money from the sale, along with the $ 25 billion it received from Goldman Sachs, to attempt another bid for Time Warner.
The 9 of September of 2015 , 21st Century Fox announced a joint venture for profit with the National Geographic Society. The new company will be called National Geographic Partners and will take over all of National Geographic’s media and consumer-based operations, including National Geographic magazine and National Geographic television networks that were already run as a joint venture. with the company. 21st Century Fox has a 73% stake in the company.
The 14 of December of 2017 , The Walt Disney Company Inc. acquires most of the shares of 21st Century Fox, where his films, tapes, films, TV shows and more would pass his power, with a $ 52.4 billion of Dollars. This purchase is considered one of the largest in entertainment history.
