News Corp. CEO Robert Thomson sent out the following to the staff on Friday:
The News Corp Board, following the receipt of letters from Rupert Murdoch and the Murdoch Family Trust, has formed a Special Committee of independent directors to assess a potential combination with Fox Corporation.
At News Corp, we are constantly pursuing ways to enhance our performance and expand our businesses, and the upheaval in media presents both challenges and opportunities. However, I would like to stress that the Special Committee has not made any determination at this time, and there can be no certainty that any transaction will result from its evaluation.
The announcement will have no impact on our current operations and it is imperative that we all remain resolutely focused on our world-class publishing, news, entertainment, intelligence and real estate products. We have had two successive years of record profits and so I thank you for what you have done and for what you surely will do for the company.
Today’s news will no doubt prompt much media coverage and speculation, and it is always best not to speculate on speculation. If you receive any outreach from media, shareholders, customers, or others please forward the missive to the Chief Communications Officer in your region. We will make no further formal comment until the Special Committee deems it appropriate.