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Fox Gains Control Over National Geographic's Media Assets

Fox Gains Control Over National Geographic's Media Assets Zacks 45 mins ago GRAY TELEVISION INC Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits EDGAR Online 8 hrs ago

In an effort to expand its 18-year partnership with National Geographic Society, media behemoth Twenty-First Century Fox, Inc. FOXA has announced a new joint venture with the former.

Per the agreement, Rupert Murdoch family controlled Twenty-First Century Fox will hold majority of the stake in National Geographic Channels. Twenty-First Century Fox will own 73% of the new entity called National Geographic Partners, whereas National Geographic Society will hold the remaining stake. The deal is valued at $725 million and is expected to be sealed later this year, subject to regulatory and other approvals.

Following the formation of this joint venture, National Geographic Partners will not only operate National Geographic television channels...