National Geographic Magazine Going For-Profit Under Partnership With Rupert Murdoch’s 21st Century Fox
Under a partnership with 21st Century Fox, the media corporation will own a 73% share of National Geographic Partners, which comprises National Geographic Magazine and National Geographic Channel, as well as books, maps, catalogs, and a travel agency. That leaves the National Geographic Society (and, thankfully, its scientific grants) still non-profit and independently governed, with the magazine and other assets controlled by a 50/50 boardroom split of Fox and Nat Geo executives.
The Washington Post reported the partnership and that (21st Century Fox founder and executive co-chairman) Rupert Murdoch’s son, James Murdoch, 21st Century Fox CEO, said there are no plans to change the magazine. Murdoch called it “a very healthy brand” and promises to make no changes, but that may be small consolation for fans when the elder Murdoch’s rampant science denial is taken into consideration.
So why undertake such a partnership in the first place? If National Geographic Magazine can really maintain their commitment to science under Fox ownership, the money is hard to ignore: Fox is paying $725 million for its share of the National Geographic Partners company.
(via Boing Boing)
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