National Geographic, one of the biggest brands in the media business, is looking forward to an extended partnership with 21st Century Fox. According to 10news, the 127-year-old non profit trust, will offer 73% stake to the company controlled by Rupert Murdoch’s family, in a new venture called National Geographic Partners.
The deal includes NG’s magazine, alongside the cable channels and other media business. This isn’t the first time National Geographic teams up with with Fox, as the two brands initially partnered 18 years ago, in 1997, when the National Geographic Channel was launched.
This new beginning is expected to bring a lot of advantages
Still, both parts are optimistic, as the deal “will bring greater financial stability to the Society’s media products and its scientific research arm, which have operated as a non-profit since National Geographic’s founding in 1888”, as stated by NG’s website.
Also, James Murdoch, 21st Century Fox CEO, said in a press release that Fox is “working hard to focus our portfolio on brands that have unquestionable consumer appeal.”
Over the past years, National Geographic managed to reach an impressive number of 3.5 million subscribers, for both physical and digital variants of the magazine. Murdoch, who is specialized in online and video advertising, is expected to centralize his efforts in reaching an even larger audience for the magazine, since he considers it “one of the most treasured names in the world”.
Declan Moore, appointed as CEO
The venture deal will be directed by a board with representatives from both Fox and National Geographic, as Declan Moore, currently NG’s chief media officer will be appointed as CEO of National Geographic Partners.
The deal ends National Geographic‘s 127 years as a non-profit organisation, while the magazine is well know for its ambitious journalistic pursuits, always promoting science and new discoveries.
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