Murdoch's TV Spinoff to Be 21st Century Fox

Separate company will own broadcast, cable networks and studios
Author:
Publish date:
Social count:
0

Rupert Murdoch's new TV and film company splitting off from
News Corp. will be called 21st Century Fox.

"21st Century Fox is a name that draws upon the rich
creative heritage of our film studio, while also speaking to the innovation and
dynamism that define all of our global media and entertainment businesses and
will guide us into the future," Murdoch said in a statement.

Last year, News
Corp. announced it would be dividing
into two independent companies. One, called
News Corp., will own the publishing assets and businesses in Australia. The
other will own TV and movie studio businesses. Until now, it had been referred
to as Fox Group.

Murdoch, who acquired the 20th Century Fox movie studio and
built the Fox network, will serve as chairman and CEO of 21st Century Fox.

Chase Carey, who will be president and chief operating officer
of 21st Century Fox, said: "Together, as 21st Century Fox, we will have the
global footprint and creative bench that give us a competitive edge across more
than 50 countries. We believe that the 21st Century Fox name captures the power
of our legacy as well as the vast opportunities for our consumers, businesses and
investors as we look forward."

21st Century Fox will own cable and broadcasting networks
and properties, including Fox, FX, FXX, FS1, Fox News Channel, Fox Business
Network, Fox Sports, Fox Sports Network, National Geographic Channels, Fox Pan
American Sports, MundoFox and STAR. It will also own the Twentieth Century Fox
Film studio, television production studios Twentieth Century Fox Television and
Shine Group. In addition, it will have pay-TV services in Europe and Asia.

The
separation of the two companies awaits approval from News Corp.'s board and
shareholders, as well as rulings from regulatory and tax officials.

Related