Murdoch decided the merger was “not optimal for shareholders,” his companies said.
NEW YORK — Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn’t coming at the right time for shareholders.
In similar statements Tuesday, the companies said their boards received letters from Murdoch withdrawing the plan.
“Mr. Murdoch indicated that he and (son and Fox Corp. chief executive) Lachlan K. Murdoch have determined that a combination is not optimal for shareholders of News Corp. and Fox at this time,” the statements said.
The elder Murdoch first floated
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