The question of whether media mogul Rupert Murdoch sold Fox News is a subject of frequent discussion among media analysts, investors, and the general public. To understand the current status of Fox News, it is essential to look at the major corporate restructuring events that took place over the last several years, specifically focusing on the massive asset sales to The Walt Disney Company and the subsequent formation of Fox Corporation.
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The 2019 Disney Deal: What Was Actually Sold?
In a historic move, 21st Century Fox—the massive media conglomerate previously controlled by Rupert Murdoch—reached a landmark agreement to sell a significant portion of its entertainment assets to The Walt Disney Company. This monumental transaction, which was officially completed in March 2019, involved a staggering $71.3 billion deal.
However, it is crucial to clarify what was included in this sale and what was left out. The assets acquired by Disney included:
- The 20th Century Fox film and television studios
- FX Networks
- National Geographic partners
- Star India
- A significant stake in Hulu
Crucially, Fox News was NOT part of the Disney sale. Neither was Fox Broadcasting Company, Fox Sports, or Fox Television Stations. These core news and sports properties were intentionally carved out and placed into a newly formed, publicly traded company named Fox Corporation.
The Birth of Fox Corporation
When the dust settled on the Disney transaction, the remaining assets of the old empire were reorganized under Fox Corporation. Rupert Murdoch and his family retained control over this newly streamlined entity. Therefore, Rupert Murdoch did not sell Fox News during the 2019 restructuring; rather, he shifted it into a dedicated broadcasting and cable holding company.
Leadership-wise, Rupert Murdoch continued to guide his media holdings for several more years. In late 2023, he officially stepped down as the chairman of Fox Corporation and News Corp, transitioning into the role of chairman emeritus. His eldest son, Lachlan Murdoch, assumed sole chairmanship of Fox Corporation, ensuring that the company remained under family stewardship rather than being sold off to an outside buyer.
Current Ownership Status
As of today, Fox News remains a primary asset of Fox Corporation. It operates alongside other major entities such as Fox Sports and the Fox broadcast network. While the broader global media landscape continues to evolve at a rapid pace, and corporate portfolios frequently shift, Fox News has not been sold to a third-party buyer. It continues to function under the overarching corporate umbrella established by the Murdoch family during their strategic reorganization.
- Rupert Murdoch sold most of 21st Century Fox’s entertainment assets to Disney in 2019.
- Fox News, Fox Sports, and the Fox broadcast network were excluded from the Disney deal.
- These news and sports assets were transferred to the newly formed Fox Corporation.
- Rupert Murdoch stepped down from his executive roles in 2023, passing leadership to his son Lachlan Murdoch, keeping the company within the family.
