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James Murdoch

Deal gives Fox majority stake in National Geographic media

The 127-year-old nonprofit National Geographic Society has struck a $725 million deal that gives 21st Century Fox a majority stake in National Geographic magazine and other media properties, expanding an existing TV partnership. The agreement announced Wednesday will give the company controlled by Rupert Murdoch's family a 73 percent stake in the new National Geographic Partners venture. The society retains 27 percent ownership. The move shifts the longtime nonprofit flagship magazine into a for-profit venture. The arrangement brings together National Geographic's magazine with its cable channels and other media businesses. National Geographic originally partnered with Fox in...