News Corp dashboard. hire an advisor to consider a merger with Fox (NASDAQ:NWS)
News Group (NASDAQ:NWS) (NASDAQ:Northwest Australia) special committee tasked with examining the possibility of reuniting with Fox (NASDAQ:FOOD) (NASDAQ:FOXA) yes hire legal and financial advisors to dig into Rupert Murdoch’s proposal.
In an update, the Special Committee said it retained PJT Partners as its financial advisor and Sullivan & Cromwell as its legal advisor.
It has not made any decisions about a possible combination of companies at this time.
“The Special Committee is aware of its fiduciary duty to represent the shareholders of News Corp.Northwest Australia), and will provide further updates when and when the Special Committee considers such updates appropriate or necessary,” the group said in a statement.
The committee consists of all independent directors not affiliated with the Murdoch family – Kelly Ayotte, José María Aznar, Natalie Bancroft, Ana Paula Pessoa and Masroor Siddiqui – and is chaired by Chief Independent Director Siddiqui.
Murdoch and Murdoch Family Trust have said they will not vote for such a combination unless it is proposed by the Special Committee and wins a majority of voters who are non-affiliated shareholders.
The process was kicked off with the push of Rupert Murdoch to test the combination of the two, a move that would reuniting a former wide-ranging media empire that spanned nearly a decade into separate entities.