Wednesday, September 9, 2015

Fox buys struggling National Geographic

The Star reports that the venerable National Geographic Society, struggling with declining revenue and readership, has signed a deal to sell its 127-year-old enterprise to 21st Century Fox that doubles its resources, the two companies announced Wednesday.
The deal “significantly” increases the non-profit National Geographic Society’s endowment to nearly $1 billion US in a new company called National Geographic Partners. It will be 73 per cent owned by 21st Century Fox and 27 per cent by the National Geographic Society.

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