Per Wiki:
Fox Corporation, also known as Fox Corp. (referred to before its creation as “New Fox”) is a mass media company formed as a result of the acquisition of 21st Century Fox by Disney to serve as the corporate spin-off for the assets The Walt Disney Company didn’t acquired.[7][1] The company began trading on March 19, 2019—the eve of the expected completion of the Disney acquisition of the remainder of 21st Century Fox.
Fox is the legal successor to 21st Century Fox (in turn a successor to News Corporation) dealing primarily in the television broadcast, news and sports broadcasting industries. Its sister company under Rupert Murdoch’s control, News Corp, holds Murdoch’s print interests and other media assets in Australia (both owned by him and his family via a family trust with 39% interest in each). Murdoch is co-executive Chairman, while his son Lachlan Murdoch is Chairman and CEO, respectively.
Fox’s assets include the Fox Broadcasting Company, Fox Television Stations, Fox News, the Fox Business Network, the national operations of Fox Sports, and others.[5]
On December 17, 2017, The Walt Disney Company announced its intent to acquire the filmed entertainment, cable entertainment, and direct broadcast satellite divisions of 21st Century Fox. The remainder of the company, would form a so-called “New Fox”, maintaining control of assets such as Fox’s television network and broadcast stations, Fox News Channel, and the national operations of Fox Sports, among other assets. Fox’s regional sports networks were to be included in the sale to Disney.[8][9] In May 2018, it was confirmed that Lachlan Murdoch, rather than James Murdoch, would take charge of the New Fox company.[4]
The merger has faced antitrust scrutiny; Disney would not legally be able to own both the ABC and Fox networks due to an FCC policy known as the “dual network rule”, which prohibits mergers between the top broadcast networks.[10] The Department of Justice also ordered that Fox’s regional sports networks be divested by Disney, as their combination with ESPN would put Disney in a dominant position of the overall market.[11][12]
In mid-2018, Comcast instigated bidding wars over both the assets Disney planned to purchase, and the British broadcaster Sky plc (a company which 21st Century Fox held a stake in, and was planning to acquire the remainder). In July 2018, Fox agreed to an increase of Disney’s offer to $71.3 billion to fend off Comcast’s counter-bid.[13][14] British regulators ordered that a blind auction be held for Sky’s assets, which would be won by Comcast.[15]
On October 10, 2018, it was reported that in preparation for the impending completion of the sale, the new, post-merger organizational structure of “New Fox” would be implemented by January 1, 2019.[6] On November 14, 2018, it was revealed that the new independent company will maintain the original “Fox” name.[16]
On January 7, 2019, Fox Corporation’s registration statement was filed with the U.S. Securities and Exchange Commission.[17][3]
On January 11, 2019, Fox stated in a securities filing that it has no plans to bid on its former regional sports networks.[7]
On March 12, 2019, Disney announced that the sale would be completed by March 20, 2019.[18] On March 19, 2019, Fox Corporation officially began trading on the S&P 500, replacing 21st Century Fox on the index.[19] Republican politician and former speaker of the house Paul Ryan also joined Fox’s board at this time.
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