Fox Corporation (FOX, FOXA) announced that the company’s board of directors received a letter from Rupert Murdoch withdrawing the proposal to explore a potential combination of FOX and News Corporation (NWS, NWSA). In withdrawing the proposal, Murdoch indicated that he and Lachlan Murdoch have determined that a combination is not optimal for the shareholders of Fox and News Corp at this time. As a result of this action, the Special Committee of the Board of Directors of Fox Corporation has been dissolved. The Board would like to express its appreciation for the Special Committee’s efforts on this matter.
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