Tuesday, June 3, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

News Corp shareholder T Rowe Price raises concerns over Fox merger

by Reuters
November 26, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: The Fox News electronic ticker is seen outside the News Corporation building in New York City, in New York, U.S., November 8, 2017. REUTERS/Shannon Stapleton/File Photo

(Reuters) -T. Rowe Price, a major shareholder in News Corp (NASDAQ:), said it had strong reservations about Rupert Murdoch’s plan to reunite News Corp and Fox Corp, The New York Times reported on Friday, joining other investors in dissent over the plan.

T. Rowe Price told the newspaper that a merger of the two companies would probably undervalue News Corp, which it believes is trading for less than it is worth.

T. Rowe Price owns about 17.88% of News Corp, according to Refinitiv data, and is the largest shareholder after the Murdoch family.

Fox and News Corp declined to comment, while T. Rowe Price did not immediately respond to Reuters requests for comment.

Other major shareholders Independent Franchise Partners and Irenic Capital have also opposed Murdoch’s plan, disclosed in October, to recombine the companies that he separated in 2013.

Fox and News Corp said in October they formed special committees to review proposals for a potential combination.

Independent Franchise Partners owns about 7% of News Corp’s Class A shares and 6.4% in Fox Corp. Activist investor Irenic Capital Management holds 2% of News Corp’s shares.

T. Rowe Price wanted to make its concerns known to the boards and the public before the companies put forward any firm proposal, the newspaper quoted Vincent DeAugustino, one of the portfolio managers who oversees T. Rowe’s investment in News Corp, as saying.

“It’s more constructive to help form the process than try to push back against any proposal once it’s been made,” DeAugustino told the newspaper, adding that T. Rowe Price had raised its concerns with News Corp’s special committee in recent weeks.

The asset management firm also had concerns related to the potential financial consequences of litigation against Fox News by the voting machine companies Dominion and Smartmatic, DeAugustino said.

He also cited worries that the special committees appointed to review the deal were not sufficiently independent.

In the 2013 split, Murdoch put his publishing business in News Corp, a newly created public entity, and the TV and entertainment businesses under 21st Century Fox.

Analysts have raised concerns over the merger, saying that News Corp needs to simplify by selling off or spinning off assets instead of recombining with Fox. Any deal would require the support of independent shareholders.



Source link

Tags: concernsCorpFoxmergerNewsPriceraisesRoweshareholder
Previous Post

Black Friday Apple deals: live, record-low prices on Airpods, iPads, Apple Watch

Next Post

CrowdStrike Stock – What’s a Fair Valuation?

Related Posts

Coherent Sees Growth In The Data Center Market; Exits Non-Core Businesses (NYSE:COHR)

Coherent Sees Growth In The Data Center Market; Exits Non-Core Businesses (NYSE:COHR)

by Michael Del Monte
June 2, 2025
0

This text was written byComply withMichael Del Monte is a buy-side fairness analyst with over 5 years of business expertise....

NetApp, Inc. 2025 Q4 – Results – Earnings Call Presentation (NASDAQ:NTAP)

NetApp, Inc. 2025 Q4 – Results – Earnings Call Presentation (NASDAQ:NTAP)

by SA Transcripts
June 2, 2025
0

This fall: 2025-05-29 Earnings AbstractEPS of $1.93 beats by $0.03  | Income of $1.73B (3.84% Y/Y) beats by $10.17MThis text was...

Limbach Holdings Stock: Growth Is Great, But Valuation Is A Concern (NASDAQ:LMB)

Limbach Holdings Stock: Growth Is Great, But Valuation Is A Concern (NASDAQ:LMB)

by David Zanoni
June 2, 2025
0

This text was written byObserveDavid focuses on development & momentum shares which can be moderately priced and prone to outperform...

Gibraltar Industries: Shares Have Fallen Enough To Justify An Upgrade (NASDAQ:ROCK)

Gibraltar Industries: Shares Have Fallen Enough To Justify An Upgrade (NASDAQ:ROCK)

by Daniel Jones
June 1, 2025
0

This text was written byObserveDaniel is an avid and energetic skilled investor. He runs Crude Worth Insights, a value-oriented publication...

Catalyst: Solid Business Model Propels Growth For This Buy And Build Pharma (NASDAQ:CPRX)

Catalyst: Solid Business Model Propels Growth For This Buy And Build Pharma (NASDAQ:CPRX)

by Out of Ignorance
May 31, 2025
0

This text was written byObserveWriting beneath the pseudonym "out of ignorance", I very a lot regard investing as a studying...

Dividend Champion, Contender, And Challenger Highlights: Week Of June 1

Dividend Champion, Contender, And Challenger Highlights: Week Of June 1

by Index Investing News
May 31, 2025
0

This textual content was written by Justin Laws has a Ph.D in Chemistry from Rice Faculty and has earned the...

Next Post
CrowdStrike Stock – What’s a Fair Valuation?

CrowdStrike Stock - What's a Fair Valuation?

Iran nets 2 goals in added time to sink Wales! World Cup 2022 – FIFA Match Today: Check Results, Points Table, Standings, Football Match Schedule

Iran nets 2 goals in added time to sink Wales! World Cup 2022 - FIFA Match Today: Check Results, Points Table, Standings, Football Match Schedule

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

5.8-magnitude earthquake shakes Turkish coast

5.8-magnitude earthquake shakes Turkish coast

June 3, 2025
Top CNN Reporter OUT After Outlet Pays Navy Vet Millions of Dollars in Defamation Settlement | The Gateway Pundit

Top CNN Reporter OUT After Outlet Pays Navy Vet Millions of Dollars in Defamation Settlement | The Gateway Pundit

June 2, 2025
Justin Sun takes center stage at Bitcoin Vegas 2025 with TRON DAO as top sponsor of Code + Country and co-host of Kraken’s Oceanic Night

Justin Sun takes center stage at Bitcoin Vegas 2025 with TRON DAO as top sponsor of Code + Country and co-host of Kraken’s Oceanic Night

June 3, 2025
Coherent Sees Growth In The Data Center Market; Exits Non-Core Businesses (NYSE:COHR)

Coherent Sees Growth In The Data Center Market; Exits Non-Core Businesses (NYSE:COHR)

June 2, 2025
Suspect charged with hate crime in attack at pro-Israeli rally in Colorado

Suspect charged with hate crime in attack at pro-Israeli rally in Colorado

June 3, 2025
Deal: Meater Plus smart thermometer drops to a record-low price

Deal: Meater Plus smart thermometer drops to a record-low price

June 2, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

5.8-magnitude earthquake shakes Turkish coast

Top CNN Reporter OUT After Outlet Pays Navy Vet Millions of Dollars in Defamation Settlement | The Gateway Pundit

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In