Fox Corporation forms special committee to begin exploring potential tie-up with News Corporation
NEW YORK and LOS ANGELES, October 14, 2022 /PRNewswire/ — Fox Corporation (“FOX” or the “Company”) (Nasdaq: FOXFOXA) announced today that the Company’s Board of Directors, following receipt of letters from K. Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee of independent members of the Board of Directors (the “Special Committee”) to begin exploring a possible combination with News Corporation (“News Corp”) (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
The Special Committee, in accordance with its fiduciary duties and in consultation with its independent financial and legal advisors, will thoroughly evaluate a potential combination with News Corp. The special committee has not made any decision at this time, and it is not certain that the Company will enter into such a transaction.
The Company does not intend to comment on or disclose further developments regarding the work of the Special Committee unless and until it determines that additional disclosure is appropriate or required.
About Fox Corporation
Fox Corporation produces and distributes compelling news, sports and entertainment content through its leading iconic national brands, including FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations, as well as leading AVOD service Tubi. These marks have cultural significance to consumers and commercial importance to distributors and advertisers. The breadth and depth of our footprint enables us to deliver content that engages and informs audiences, develop deeper relationships with consumers, and create more engaging product offerings. FOX maintains an impressive track record of success in the news, sports and entertainment industry that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “should”, “likely”, “anticipate”, “will expects”, “intends”, “plans”, “projects”, “believes”, “estimates”, “outlook” and similar expressions are used to identify these forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to uncertainty and changes in circumstances. These statements, including those regarding the exploration of a potential combination with News Corporation, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially. of those expressed in the forward-looking statements, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in the forward-looking statements.
More detailed information is contained in documents the Company has filed with or provided to the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10. -Q.
The statements in this press release speak only as of the date on which they are made, and the Company assumes no obligation to update or release any revisions to any forward-looking statements made in this press release. or report any event or circumstance after the date of this release. press release or to reflect the occurrence of unforeseen events or to conform such statements to actual results or changes in the Company’s expectations, except as required by law.
SOURCE Fox Corporation
