Murdoch Plan to Reunite Empire Pushes Fox Down Most Since 2020

Rupert Murdoch’s plan to combine News Corp. and Fox Corp., recreating the conservative-leaning media goliath that he split apart nine years ago, drew mixed reactions on Wall Street.

Several analysts said the potential recombination is unlikely to solve one of the key problems facing Fox and News Corp. -- low valuations relative to their peers. While News Corp. gained 3.4% amid a broad market rally, Fox’s Class A shares dropped 9.4% for the biggest decline since March 2020.

The 91-year-old patriarch of the global media empire is seeking to reunite the parent of Fox News with that of ...