T. Rowe Price , a major shareholder in News Corp , said it had strong reservations about Rupert Murdoch's plan to reunite News Corp and Fox Corp , The New York Times reported on Friday, joining other investors in dissent over the plan.
have also opposed Murdoch's plan, disclosed in October, to recombine the companies that he separated in 2013.to review proposals for a potential combination.
T. Rowe Price wanted to make its concerns known to the boards and the public before the companies put forward any firm proposal, the newspaper quoted Vincent DeAugustino, one of the portfolio managers who oversees T. Rowe's investment in News Corp, as saying. The asset management firm also had concerns related to the potential financial consequences of litigation against Fox News by the voting machine companies Dominion and Smartmatic, DeAugustino said.
In the 2013 split, Murdoch put his publishing business in News Corp, a newly created public entity, and the TV and entertainment businesses under 21st Century Fox.
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