Updated: 21st Century Fox said Tuesday it has completed the distribution of shares to birth the Fox Corporation. “21Cf and Fox are now each a standalone, publicly traded company,” 21st Century Fox said in a statement issued at 8:30 a.m. Et.
The separation of new and old Fox begins a new era for the Murdoch clan and the media business, a day before Disney completes its acquisition of 21st Century Fox.
The new-model Fox will begin trading today on the Nasdaq under the Foxa symbol. Earlier today, 21st Century Fox finalized the complex transfer of the Fox Corp. assets — primarily Fox News, Fox Sports, and Fox Broadcasting — to the newly created Fox Corporation. Fox Corp. will also fork over $8.5 billion in cash to 21st Century Fox prior to the separation to help Disney offset the tax bill for the transaction. For today only, both Fox Corp. and 21st Century...
The separation of new and old Fox begins a new era for the Murdoch clan and the media business, a day before Disney completes its acquisition of 21st Century Fox.
The new-model Fox will begin trading today on the Nasdaq under the Foxa symbol. Earlier today, 21st Century Fox finalized the complex transfer of the Fox Corp. assets — primarily Fox News, Fox Sports, and Fox Broadcasting — to the newly created Fox Corporation. Fox Corp. will also fork over $8.5 billion in cash to 21st Century Fox prior to the separation to help Disney offset the tax bill for the transaction. For today only, both Fox Corp. and 21st Century...
- 3/18/2019
- by Cynthia Littleton and Brian Steinberg
- Variety Film + TV
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