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News Corp., the parent of The Wall Street Journal, Barron’s and MarketWatch.com, said in a statement on Tuesday that combining it and the Fox Corp., was “not optimal for shareholders of News Corp and Fox at this time,” reports Lauren Hirsch of the New York Times.
Hirsch reports, “The boards of both media companies disclosed in October that Mr. Murdoch had proposed combing the two companies, a move that would reunite them nearly 10 years after they split up.
“Both Fox and News Corp established independent committees of the boards to evaluate a possible deal. But it has since faced significant investor pushback.”
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