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Announcement by Fox Corporation's Board of Directors On Potential Combination with News Corporation
NEW YORK and LOS ANGELES, Jan. 24, 2023 /PRNewswire/ -- Fox Corporation ("FOX" or the "Company") (Nasdaq: FOX, FOXA) announced today that the Company's board
About this update from Fox Corporation
[{"type":"text","content":"NEW YORK and LOS ANGELES, Jan. 24, 2023 /PRNewswire/ -- Fox Corporation (\"FOX\" or the \"Company\") (Nasdaq: FOX, FOXA) announced today that the Company's board of directors received a letter from K. Rupert Murdoch withdrawing the proposal to explore a potential combination of FOX and News Corporation (\"News Corp\") (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV). \nIn withdrawing the proposal, Mr. Murdoch indicated that he and Lachlan K. Murdoch have determined that a combination is not optimal for the shareholders of FOX and News Corp at this time.\nAs a result of this action, the Special Committee of the Board of Directors of Fox Corporation has been dissolved. The Board would like to express its appreciation for the Special Committee's efforts on this matter.\nCAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTSThis 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,\" \"anticipates,\" \"expects,\" \"intends,\" \"plans,\" \"projects,\" \"believes,\" \"estimates,\" \"outlook\" and similar expressions are used to identify these forward-looking statements. These statements, including those regarding the exploration of a potential combination with News Corporation, are based on management's current expectations and beliefs, 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 any forward-looking statements. More detailed information is contained in the documents the Company has filed with or furnished to the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q.\nStatements in this press release speak only as of the date they were made, and the Company undertakes no duty to update or release any revisions to any forward-looking statement made in this press release or to report any events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events or to conform such statements to actual results or changes in the Company's expectations, except as required by law.\nAbout Fox CorporationFox Corporation produces and distributes compelling news, sports, and entertainm...