IFP Joins Other News Corp (NWSA) Shareholders Who Question Combination - DJ

November 23, 2022 7:31 AM EST

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(Updated - November 23, 2022 7:41 AM EST)

Independent Franchise Partners, a major outside shareholder in News Corp (NASDAQ: NWSA) and Fox (NASDAQ: FOXA), opposes plans by Rupert Murdoch to recombine the companies and wants other alternative considering, including a breakup of News Corp, according to a report from Dow Jones, citing sources.

IFP is one of the largest non-Murdoch holders of both companies. It told a special committee of News Corp's board last month that it thinks a combination would fail to realize the full value of the companies. It believes a combination should be done in conjunction with a sale of some News Corp's most valuable business units.

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