Progress Partners

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Progress Partners is a boutique investment firm based in Boston and New York City providing financial advisory services to companies in media, marketing, advertising, and software.

Spotlight: Fox Forges Future

Article by Mary Ann Halford, Executive in Residence at Progress Partners (November 17, 2017)

The much-discussed potential sale of Rupert Murdoch’s Fox assets – even if it never happens – shows the media industry is changing fast, says FTI Consulting’s senior advisor.

For more than four decades, media and financial professionals have witnessed Rupert Murdoch build his empire largely by challenging incumbent leaders.

The 21st Century Fox executive chairman was always David pitted against a Goliath – Fox Network versus ABC, CBS and NBC; Fox News versus CNN and MSNBC; Fox Sports versus ESPN; Fox International Networks versus Discovery and Turner International Networks; Sky versus the incumbent platforms in the UK, Germany and Italy; National Geographic versus Discovery and A&E…

In light of this history, it was perplexing for many to digest the news on November 6 that the Murdoch family had been exploring selling a large proportion of the 21st Century Corporation assets to The Walt Disney Company.

The assets in play include the film and television studios, the non-sports and news US cable networks, the international channel operations, the 39% investment in Sky, and Star in India. Fox would hold on to Fox News, Fox Sports, Fox Network and the broadcast station group.

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