Fox Expands Ties With National Geographic – To Manage All Of The Media Properties For Profit
21st Century Fox has significantly expanded its ties with the National Geographic Society. All of the latter’s media properties will now be managed by Fox, and the profits earned will be jointly shared.
All of National Geographic Society’s media properties will now be jointly managed and operated with 21st Century Fox. The deal includes management of the iconic yellow-bordered magazine, TV channels, and other physical and digital platforms. Fox appears to have shelled out $725 million in a combination of cash and equity for the rights and in return will own 73 percent of the joint venture, reported Phys.
The complete management will fall under a joint venture named National Geographic Partners. Interestingly, the 73-27 split has simply been carried forward. The split was decided for the inaugural TV channel venture way back in 1997 and will be honored across the plethora of media properties.
Speaking about the synergy, 21st Century Fox CEO James Murdoch said, “This expanded partnership, bringing together all of the media and consumer activities under the National Geographic umbrella, one of the most treasured names in the world, creates vast opportunities and enables this business to be even more successful in a digital environment.”
The partnership can also be considered as an extension of the collaboration Fox had with National Geographic for the past 18 years, which began with the broadcasting of the National Geographic Channel on the cable network. While the televised content is already managed by Fox, the extended deal will allow Fox to manage complete bouquet of National Geographic’s media properties like magazines, books, maps, TV production studio, and various other ventures that the society currently operates and may think of in the future, reported KCCI.
The deal is expected to boost National Geographic Society’s endowment to nearly $1 billion, reported MSN. This is sure to help the not-for-profit society, which funds expeditions and education efforts to further the understanding of earth and its inhabitants, including the human civilization and its history. National Geographic’s televised programs are available to the majority of Americans who own a television.
Interestingly, National Geographic will continue to remain a non-profit organization, but the profits generated from all the media properties, which include television, print, and digital advertising, will be shared by the society and Fox. Given the commitment Fox has shown in National Geographic Society, it is quite apparent that the former strongly believes in the latter’s brand equity and will try its best to monetize it across the world and in the few remaining markets that still do not have access to NGS’s programs and content.
[Image Credit | Karen Bleier / Getty Images, 21st Century Fox]
