Rupert Murdoch's Desire to Re-Merge Fox Corp and News Corp Could Materialize

Court documents and testimony from June indicate that Rupert Murdoch may renew his efforts to re-merge Fox Corp and News Corp, a move that would consolidate his family's control over a smaller media empire. Previous attempts to combine the companies failed due to investor resistance, but an attorney for Lachlan Murdoch recently argued in court that discussions related to the merger should remain sealed because it "still could happen in the future." Following a Reuters report on this development, shares in Fox dropped by as much as 2.9%, while News Corp saw a 1.5% increase.