Finance

Murdoch Declines to Address Reports About Sale of Fox Assets

Says management's focus is ‘long-term value’ 12/05/2017 12:20 PM Eastern
James Murdoch

With rumors that a major sale of television assets is imminent, 21st Century Fox CEO James Murdoch said it would be wrong to comment on market speculation.

Speaking at the UBS Communications Conference in New York Tuesday (Dec. 5), Murdoch declined an invitation to discuss the asset sales reports, which indicate that Fox would sell assets including its cable networks, movie and TV studios, some of its international business and its regional sports networks to The Walt Disney Co.

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“It would be wrong to comment on market speculation,” said Murdoch, citing company policy, "so there’s nothing to add to that.”

But he added that “the way we’re running the business is about value, long-term value.”

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He added that the shape of the business that management was aiming for was “what’s going to create the most value for our shareholders.”

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