NEW
YORK and LOS
ANGELES, Oct. 14, 2022 /PRNewswire/ -- Fox
Corporation ("FOX" or the "Company") (Nasdaq: FOX, FOXA) announced
today that the Company's Board of Directors, following the receipt
of letters from K. Rupert Murdoch
and the Murdoch Family Trust, has formed a Special Committee
composed of independent members of the Board (the "Special
Committee") to begin exploring a potential combination with News
Corporation ("News Corp") (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
The Special Committee, consistent with its fiduciary duties and
in consultation with its independent financial and legal advisors,
will thoroughly evaluate a potential combination with News Corp.
The Special Committee has not made any determination at this time,
and there can be no certainty that the Company will engage in such
a transaction.
The Company does not intend to comment on or disclose further
developments regarding the Special Committee's work unless and
until it deems further disclosure is appropriate or required.
About Fox Corporation
Fox Corporation produces and distributes compelling news,
sports, and entertainment content through its primary iconic
domestic brands, including FOX News Media, FOX Sports, FOX
Entertainment and FOX Television Stations, and leading AVOD service
Tubi. These brands hold cultural significance with consumers and
commercial importance for distributors and advertisers. The breadth
and depth of our footprint allows us to deliver content that
engages and informs audiences, develop deeper consumer
relationships, and create more compelling product offerings. FOX
maintains an impressive track record of news, sports, and
entertainment industry success that shapes our strategy to
capitalize on existing strengths and invest in new initiatives. For
more information about Fox Corporation, please visit
www.FoxCorporation.com.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING
STATEMENTS
This 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 are
based on management's current expectations and beliefs and are
subject to uncertainty and changes in circumstances. These
statements, including those regarding the exploration of a
potential combination with News Corporation, 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, 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 (the "SEC"), including the Company's Annual Report on
Form 10-K, and subsequent Quarterly Reports on Form 10-Q.
Statements 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.
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SOURCE Fox Corporation