The separation of new and old Fox begins a new era for the Murdoch clan and the media business, a day before Disney completes its acquisition of 21st Century Fox. The new-model Fox will begin trading today on the NASDAQ under the FOXA symbol. Earlier today, 21st Century Fox finalized the complex transfer of the Fox Corp. assets — primarily Fox News, Fox Sports, and Fox Broadcasting — to the newly created Fox Corporation.
By 12:02 a.m. ET on Wednesday, Disney is expected to complete its acquisition of the remaining 21st Century Fox assets, buying out 21st Century Fox shareholders with a mix of cash and stock. Fox Corp. is expected to keep a low profile on day one, other than the announcement of members of its board of directors. Chase Carey, a chairman-CEO of Formula 1 who was a 21st Century Fox board member and longtime Fox executive, is on the seven-member panel along with former House Speaker Paul Ryan.
The GOP/Fox merger is becoming increasingly formalized. Trump watches and promotes it incessantly, Fox appoints Paul Ryan to its board. https://t.co/Chro5Gg2mP
— Brendan Nyhan (@BrendanNyhan) March 19, 2019