Rupert Murdoch has cancelled plans to consider merging the Fox Corporation, parent of Fox News, with News Corp, which owns The Wall Street Journal. Murdoch, who is chairman of Fox and executive chairman of News Corp, said in a statement that he and son Lachlan Murdoch, co-chairman of News Corp and chairman and CEO of Fox, have “determined that a combination is not optimal” for shareholders at this time. The move comes as News Corp is embroiled in negotiations to sell Realtor.com owner Move Inc. to commercial realty firm CoStar Group in a deal valued at around $3 billion. Continue reading Murdochs Call Off the Proposal to Merge Fox and News Corp

At a Senate Judiciary Committee, Facebook chief executive Mark Zuckerberg and Twitter chief executive Jack Dorsey reported that their companies made improvements in blocking misinformation during the 2020 presidential election, compared to their inability to stop Russian meddling in the 2016 election. Judiciary chair Lindsey Graham (R-South Carolina) said both companies will face modifications to Section 230 of the Communications Decency Act, which protects them from liability for user-posted content, and the two chief execs expressed cautious support for the idea. Continue reading Facebook, Twitter Chief Execs Support Section 230 Changes

Affirming the FCC’s authority over social media companies, chair Ajit Pai has launched an official effort to “clarify” how Section 230 of the Communications Decency Act applies to them. “Social media companies have a First Amendment right to free speech — but they do not have a First Amendment right to a special immunity denied to other media outlets, such as newspapers and broadcasters,” he said. President Trump has often called for social media companies to be stripped of Section 230 protections. Continue reading FCC Aims to Limit Section 230 Protections for Social Media

News Corp and Facebook inked a deal that will let the social media platform license headlines from The Wall Street Journal and other Dow Jones media outlets including the New York Post for its ad-free news section. The Washington Post, BuzzFeed News and Business Insider are other publications that have reached similar arrangements with Facebook. The New York Times is in talks with Facebook, but has not revealed whether it is close to a deal. News Corp’s deal was complicated by WSJ’s digital subscription business model. Continue reading Facebook to License News From Dow Jones Media Outlets

The difficult relationship between Google and Facebook and traditional journalism outlets is based on the fact that the former has control over digital advertising and distribution, disempowering the latter. Now, the News Media Alliance, that industry’s main trade group, is working to win collective bargaining rights with the digital titans they are forced to depend on, asking Congress for a limited antitrust exemption to do so. Experts give the effort long-shot odds, but news media industry is determined to proceed. Continue reading News Media Unite for Collective Bargaining with Tech Titans