-

Irenic Capital Comments on Withdrawal of Proposal to Combine News Corp and Fox

NEW YORK--(BUSINESS WIRE)--Irenic Capital Management, L.P. (together with its affiliates, “Irenic” or “we”), which is the holder of approximately 2.6% of the class B voting shares of News Corporation (“News Corp” or the “Company”) (NASDAQ: NWSA, NWS), today commented on the Company’s announcement that its Board of Directors (the “Board”) received a letter from K. Rupert Murdoch that withdrew the proposal to explore a potential combination of News Corp and Fox Corporation (“Fox”) (NASDAQ: FOXA, FOX).

Adam Katz, Co-Founder and Chief Investment Officer of Irenic, commented:

“Irenic is encouraged that Executive Chairman Rupert Murdoch and Co-Chairman Lachlan Murdoch have concluded that a combination with Fox is not in the best interests of News Corp and its shareholders. This is the right decision. Looking ahead, News Corp has an opportunity to create substantial value for its owners.

News Corp owns an exceptional – yet disparate – collection of assets and businesses that is worth far more than the Company’s current trading price. In particular, REA Group Ltd. (“REA”), the dominant real estate listings platform in Australia, and Dow Jones & Company, Inc. (“Dow Jones”), the world’s preeminent financial media organization and information service, are extraordinary growth businesses. While we hope this process has highlighted the strength of those franchises, we know that further steps are necessary to unlock the value in REA, Dow Jones and News Corp’s other high-quality assets. We appreciate the efforts of News Corp’s management and its Board in assessing a potential recombination, and we look forward to working with the Company’s leadership to unlock its considerable value in the months ahead.”

About Irenic

Irenic Capital Management, L.P. is an investment management firm founded by Adam Katz and Andy Dodge. Based in New York City, Irenic works collaboratively with publicly traded companies to ensure operating activities, capital deployment and management incentives are all aligned to create value for the company and its owners. For more information about Irenic, please visit www.irenicmgmt.com.

Contacts

For Investors:
Irenic Capital Management
contact@irenicmgmt.com

For Media:
Longacre Square Partners
Greg Marose / Dan Zacchei, 646-386-0091
irenic@longacresquare.com

Industry:

Irenic Capital Management, L.P.

Release Versions
English

Contacts

For Investors:
Irenic Capital Management
contact@irenicmgmt.com

For Media:
Longacre Square Partners
Greg Marose / Dan Zacchei, 646-386-0091
irenic@longacresquare.com

More News From Irenic Capital Management, L.P.

Irenic Commends SSP Chair for His Service to the Company

NEW YORK--(BUSINESS WIRE)--Irenic Capital Management, LP, a significant shareholder of SSP Group plc (“SSP” or the “Company”) (LSE: SSPG) today issued the following statement in response to the news that Chair Mike Clasper CBE has accelerated his retirement and plans to step down as a Director and Chair following the Company’s AGM scheduled for 23 January 2026: “We commend Mike for his nearly six years of service as Chair of SSP and thank him for his contributions. With Mr. Clasper’s departure,...

Irenic Issues Presentation Detailing Multiple Pathways to Reverse Underperformance and Accelerate Value Creation at Workiva

NEW YORK--(BUSINESS WIRE)--Irenic Capital Management, LP, a significant shareholder of Workiva, Inc. (“Workiva” or the “Company”) (NYSE: WK) with approximately 2% of the Company’s outstanding shares, today issued a presentation outlining actionable recommendations to address the Company’s significant share price underperformance relative to peers and create value for all shareholders. Irenic issued the following statement: “Workiva is a high-quality business with market-leading products in its...

Irenic Expresses Governance Concerns Pertaining to Forward Air Corporation

NEW YORK--(BUSINESS WIRE)--Irenic Capital Management, LP (collectively with its affiliates, “Irenic” or “we”) today issued the below statement regarding Forward Air Corporation (NASDAQ: FWRD) (“Forward Air” or the “Company”). Irenic intends to vote against certain legacy members of Forward Air’s Board of Directors (the “Board”) at the 2025 Annual Meeting of Shareholders (“Annual Meeting”). "Based on Irenic’s independent analysis, we agree with Ancora Holdings Group’s decision to withhold suppor...
Back to Newsroom