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NATIONAL GEOGRAPHIC SOCIETY AND 21ST CENTURY FOX AGREE TO EXPAND PARTNERSHIP

New Expanded Joint Venture Will Combine National Geographic Channels with National Geographic's Other Digital, Media & Publishing, Travel and Licensing Assets - - Transaction Substantially Increases Society Endowment to Nearly $1 Billion and Significantly Expands Program ResourcesTransaction Substantially Increases Society Endowment to Nearly $1 Billion and Significantly Expands Program Resources

Washington, D.C. and New York, NY - September 09, 2015 -

The National Geographic Society and 21st Century Fox announced today that they have reached an agreement to expand their highly successful 18-year partnership through which they have owned and operated the properties in National Geographic Channels, a joint venture of domestic and international cable television channels which together reach more than 500 million households globally.

The National Geographic Society is a 501(c)(3) non-profit organization focused on its mission of science, exploration and education. Consideration for the transaction is valued at $725 million. As a result, the Society ' s endowment will significantly increase to nearly $1 billion. The new entity will be owned 73 percent by 21st Century Fox and 27 percent by The National Geographic Society with a shared governance structure and equal representation on the board of directors. The Board Chair will alternate annually, with Gary Knell, National Geographic Society President and CEO, serving as the Board's first Chairman.

The new expanded joint venture will operate as National Geographic Partners and will combine the National Geographic television channels with National Geographic ' s other media and consumer-oriented assets, including: National Geographic magazines; National Geographic Studios; related digital and social media platforms; books; maps; children ' s media; and ancillary activities, including travel, location-based entertainment, archival sales, catalog, licensing and ecommerce businesses. Combining these assets into one organization will create greater opportunities to pursue National Geographic ' s mission of increasing knowledge through science, exploration and research.

Declan Moore, a 20-year veteran of the Society currently serving as Chief Media Officer, has been appointed CEO of National Geographic Partners.

"The expansion of our nearly two decade partnership with 21st Century Fox is another milestone for The National Geographic Society, which for much of its 127 years has sponsored groundbreaking scientists and explorers and shared the knowledge and wonder with the world, using the best and most creative media platforms of each era," Mr. Knell said. "The value generated by this transaction, including the consistent and attractive revenue stream that...


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