Murdoch family launches a new Fox, taking a step closer to completing historic Disney deal

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Murdoch family launches a new Fox, taking a step closer to completing historic Disney deal
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Rupert Murdoch’s 21st Century Fox has spun off various television assets to form a new company known simply as Fox Corp. The spinoff is part of a multi-pronged process that will culminate with the sale of the rest of the company to Walt Disney Co.

company as its chairman and chief executive. The Murdoch family will control the company through its ownership of voting shares.

Fox alerted the employees who it plans to retain in December. Disney has already identified key executives who will make the switch but must still decide in the coming days and months who will be integrated into the expanded company.with their rich vault of titles, including “Modern Family,” “The Simpsons,” “Avatar” and “Deadpool.” The goal is to ramp up a programming pipeline for a new streaming service, called Disney+, that the company plans to launch later this year.

Disney must sell the 22 Fox regional sports networks, including the YES network in New York, which broadcasts Yankees baseball games, and Prime Ticket and Fox Sports West in Los Angeles. Disney wanted to buy the regional channels, but the U.S. Justice Department would not allow that. In order to gain regulatory approval of the deal, Disney agreed to divest the regional sports channels.

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