Rupert Murdoch abandons plan to recombine Fox and News Corp

Rupert Murdoch, seen here in New York in 2017, has abandoned plans to combine Fox Corporation and News Corporation, a move that would have reunited his broadcasting and print publishing companies under one roof.

Rupert Murdoch has abandoned plans to combine Fox Corporation and News Corporation, a move that would have reunited his broadcasting and print publishing companies under one roof.

The companies said in nearly identical press releases that they had received a letter from Murdoch indicated that both he, and his son Lachlan, determined a combination of the two companies was not "optimal" for shareholders at this time.

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