Rupert Murdoch scraps proposal to combine Fox, News Corp, eyes sale of Move

Published by
Reuters

By Dawn Chmielewski, Greg Roumeliotis and Helen Coster (Reuters) -Rupert Murdoch reversed course on Tuesday and withdrew a proposal to re-unite News Corp and Fox Corp as the company is also exploring a sale of its stake in Move Inc., which operates the Realtor.com website, according to a regulatory filing and sources familiar with the process. Several top shareholders had publicly said they opposed the proposed plan, and on Tuesday News Corp said in a statement that the combination was “not optimal for shareholders of News Corp and Fox at this time.” The deal would have reunited the media empi…

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