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Fox, National Geographic Expand Partnership With For-Profit Company

21st Century Fox Inc. and the National Geographic Society are expanding their 18-year partnership with a new, for-profit company that will own the society’s cable TV channels, 127-year-old magazine, maps and other products.

Fox will own 73 percent of the new media company, called National Geographic Partners, with the non-profit organization holding the rest, under the accord announced Wednesday. The parties valued the deal at $725 million and said it will increase the society’s endowment to $1 billion. Declan Moore, a 20-year veteran of...