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Murdoch calls off proposed Fox-News Corp. merger

Rupert Murdoch (Credit: Getty Images)

Fox Corp. chairman Rupert Murdoch has called off a proposed merger between Fox Corp. and News Corp. after determining, along with his son Lachlan, that the reunification of the two media companies was "not optimal" for shareholders at this time.

In October, Fox Corp. and News Corp. announced the formation of special committees designed to assess a possible deal. However, the potential merger was met with opposition from prominent News Corp. shareholders in recent months, particularly around the valuation of any such deal.

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