21st Century Fox is an American multinational mass media company based in Midtown Manhattan, New York City. This is one of two companies formed from the 2013 spin-off of News Corporation's publishing assets, founded by Rupert Murdoch in 1979.
21st Century Fox is the legal successor to News Corporation which primarily handles the film and television industry. It is currently the fourth largest media conglomerate of the United States after The Walt Disney Company, Comcast and Time Warner. Another company, the "new" News Corporation, retains the printed interest of Murdoch and other media assets in Australia (both owned by him and his family through family trust with 39% controlling interest in each).
Company assets include Fox Entertainment Group - owner of the 20th Century Fox film studio (full name of the company), Fox television network and Fox News channel, among other assets. It also has significant foreign operations, including the pan-Asia Star TV pay-TV operator, and about 39% of Sky plc-the European operator of satellite and pay-TV providers in the UK and Ireland, Austria, Germany and Italy.
On December 14, 2017, The Walt Disney Company announced plans to acquire 21st Century Fox for $ 52.4 billion after spin-offs from certain businesses; this will include key assets such as 20th Century Fox, FX Networks, National Geographic Partners, regional sports networks, and international networks. Assets such as Fox's network, Fox News, and most Fox Sports will be split into a new company owned by Century Fox's current shareholders.
Video 21st Century Fox
History
Formation
21st Century Fox was formed by the separation of entertainment and media properties from News Corporation. In February 2012, Natalie Ravitz accepted the position to become Rupert Murdoch's Chief of Staff at News Corporation. The News Corporation Board approved the separation on May 24, 2013, while the shareholders approved the split on June 11, 2013; the company completed its separation on June 28 and officially started trading on NASDAQ on July 1st. Plans for such separation were initially announced on 28 June 2012, while additional details and work names of the new company were inaugurated on 3 December 2012.
Murdoch stated that this separation would "unlock the true value of both companies and their different assets, allowing investors to benefit from separate strategic opportunities resulting from more focused management of each division." The move also comes amid a series of scandals that have damaged the reputation of corporate publishing operations in the UK. The split was structured so that the old News Corporation would change its name to 21st Century Fox and turn its publishing assets into a "new" News Corporation.
While the company was originally announced as the Fox Group , on 16 April 2013, Murdoch announced a new name as a way to suggest the retention of 20th Century Fox's heritage as a group progressing into the future. The logo was officially launched on May 9, 2013, featuring a modern version of the iconic Fox spotlight. However, the 21st Century Fox brand does not extend to the existing 20th Century Fox division (which remains under its original name).
The establishment of 21st Century Fox was officially completed on June 28, 2013. Officially started trading on NASDAQ and the Australian Securities Exchange on July 1, 2013.
Next history
On January 8, 2014, Rupert Murdoch announced plans to remove 21st Century Fox shares from the Australian Stock Exchange, which only supports trading on the NASDAQ. Its listing in Australia is a relic of the period as News Corporation, and 21st Century Fox has relatively little presence in Australia, unlike News Corp. Murdoch stated that the change, which is expected to be completed by June 2014, will "simplify the capital and operating structure" of 21st Century Fox and provide "liquidity enhancement" to shareholders. Also that month, the company acquired a majority stake in YES Network, New York's regional sports network established by the New York Yankees.
In June 2014, 21st Century Fox made an effort to acquire Time Warner, which also has separated its publishing assets, for $ 80 billion in cash and stock. The deal, which was rejected by Time Warner's board of directors in July 2014, will also involve CNN sales to ease antitrust issues. On August 5, 2014, 21st Century Fox announced it had withdrawn its offer to Time Warner. The company's shares have fallen sharply since the bid was announced, prompting directors to announce 21st Century Fox will buy back $ 6 billion of its shares over the next 12 months.
On July 25, 2014, 21st Century Fox announced the sale of Sky Italia and Sky Deutschland to BSkyB for $ 9 billion, in accordance with regulatory and shareholder approvals. Fox will use the money from the sale, along with the $ 25 billion earned from Goldman Sachs, to try another offer for Time Warner.
In December 2014, Fox's television studio Shine Group joined Endemol and Core Media Group from Apollo Global Management to form Endemol Shine Group, jointly owned by 21st Century Fox and Apollo.
On September 9, 2015, 21st Century Fox announced a non-profit effort with the National Geographic Society, National Geographic Partners, which took over ownership of all National Geographic media and consumer businesses, including National Geographic magazine and National Geographic -brand that has been run as a joint venture with Fox. 21st Century Fox holds a 73% stake in the company.
On December 9, 2016, 21st Century Fox announced it had made a bid to get 61% of Sky plc shares that have not been owned. The company is worth £ 18.5 billion. The agreement was approved by the European Commission on April 7, 2017, followed by Irish Ministry of Communications, Climate Action and Environment on 27 June. However, the deal has become a spotlight and an extended regulatory review in the UK, due to concerns surrounding the plurality of British news media that the Murdoch family will have post-merger (counting Sky News, News Corp and recent acquisitions of Wireless Radio station operators ), and breaches of UK news broadcasting rules connected to Sky's former train from Fox News Channel in the country.
The Kingdom Holding Company, owned by Prince Al-Waleed bin Talal, sold its minority stake in 21st Century Fox during the fiscal quarter ending September 2017. Previously held a 6% stake, which has been reduced to around 5% by 2015. The stock valuation , or who they are sold, is unknown; Al-Waleed is the single largest shareholder of the company behind the Murdoch family. The sale was reported after al-Waleed was arrested in early November 2017 as part of an anti-corruption investigation by the Saudi government.
On April 10, 2018, European Commission officials made a surprise search of Fox Networks Group's West London offices, as part of antitrust investigations surrounding broadcasting rights for sporting events.
Suggested sales
On December 14, 2017, after such sales rumors, The Walt Disney Company (which owns and operates ABC and ESPN) announced its intention to acquire 21st Century Fox for $ 52.4 billion after a spin-off from a particular business, pending approval from regulators. President of 21st Century Fox, Peter Rice stated that he expects sales to be completed by mid 2019.
Under the terms of the deal, 21st Century Fox will spin from an entity called "New Fox", consisting of Fox Broadcasting Company, Fox News, Fox Business Network, and Fox Sports's national operations (such as Fox Sports 1, Fox Sports 2, and Big Ten Network, but excluding its regional sports network), and Disney will get the rest of 21st Century Fox. It will include major entertainment assets such as the 20th Century Fox film studio and its subsidiaries, shares in Hulu, US pay TV subsidiary FX Networks, Fox Sports Networks and National Geographic Partners, and international operations such as Star TV and Sky plc. This acquisition is primarily intended to support two excessive content attempts - ESPN and the planned Disney entertainment service. Disney will hire a 20th Century Fox backlot in Century City, Los Angeles for seven years.
The proposed transaction has raised antitrust issues, due to concerns that it may cause real losses in competition in the film industry and broadcasting sports. Some lawyers and industry analysts have expressed the opinion that transactions will likely receive regulatory approval, but will be scrutinized by regulators.
In February 2018, The Wall Street Journal reported that Comcast, the owner of NBCUniversal, was considering a counter offer. Despite initially offering $ 60 billion earlier, Fox rejected Comcast's offer because of possible antitrust concerns.
On April 3, 2018, Fox stated that Disney had made a separate offer to buy Sky News from Sky plc, as part of the proposed rule improvements needed to expedite Fox's acquisition of the company.
On May 5, 2018, it was reported that Comcast was preparing to make an unsolicited cashback offer to acquire the 21st Century Fox assets Disney offered to buy, depending on the antitrust lawsuit of AT & amp; T acquisition of Time Warner. Comcast has also made a competing bid to acquire Sky plc. Comcast confirmed on May 23, 2018 that it "considers, and is in the advanced preparation stage, an offer for a business that Fox has agreed to sell to Disney."
Shareholder voting on sales is scheduled for a special shareholder meeting by Fox and Disney on July 10, 2018, at New York Hilton Midtown and New Amsterdam Theater respectively, although Fox warns that it may "delay or delay" meetings if Comcast does not follow up with his intention to make a counter offer. It is also reported that Disney is preparing to offer all of its own cash to combat Comcast's offer. On June 13, 2018, Comcast officially announced a $ 65 billion counter-offer to acquire 21st Century Fox assets offered by Disney for purchase.
Maps 21st Century Fox
Operation
The 21st Century Fox operations can be broadly categorized into four major reporting segments:
- Network Programming Cable
- Television
- Movie Entertainment
- Live Satellite TV Broadcast .
Among the company's divisions are Twentieth Century Fox Consumer Products which "licenses and markets properties worldwide" on behalf of a number of 21st-century and third-party Fox assets.
In 2015, senior vice president for government relations is Joe Welch.
Corporate governance
In its formation in 2013, Murdoch became chairman and chief executive officer (CEO) of the company, while Chase Carey took the position of president and chief operating officer. The Co-Chairman and Co-CEO position was created in 2014 and is filled by Lachlan Murdoch and James Murdoch, respectively, both sons of Rupert Murdoch.
On July 1, 2015, Lachlan Murdoch was appointed Chief Executive of Together with his father and James Murdoch succeeded his father as CEO. Former COO Chase Carey became Vice Chairman of the Executive.
Assets
21st Century Fox mainly consists of media and broadcasting properties owned by its predecessor, such as Fox Entertainment Group, STAR TV, and 39.14% of its shares in Sky plc. News Corporation's broadcasting properties in Australia, such as Foxtel and Fox Sports Australia, remain part of the newly renamed News Corp Australia - separated from the new News Corp and not part of 21st Century Fox.
References
External links
- Official website
Source of the article : Wikipedia
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