As the television ecosystem undergoes severe challenges and volatility, many companies have begun unloading assets. Don’t expect to see FOX Corp. in that group, says COO John Nallen.
While speaking at the Deutsche Bank Media, Internet & Telecom Conference Monday, Nallen took questions about whether or not Fox could be a potential seller now that cable bundles continue to see a steady decline.
Nallen joked that the company traditionally hasn’t been sellers, but admitted its $71.3 billion sale to Disney worked well.
He later took on a more serious tone, adding that unloading channels “hasn’t crossed our minds. Is there no inbound [interest] about it? I’m not suggesting that we’re open for business on it. In fact, we’re much more focused on growing the business than we are on selling the business.”
John Nallen continued by saying that FOX is ” very interested in increasing the growth of the business through acquisition,” according to Deadline.
The insistence that FOX is more concerned about growing its business rather than selling off assets comes at a time when other large corporations — namely Warner Bros. Discovery and Paramount Global — have considered consolidations and mergers in recent months.
Speculation that FOX could look to unload some of its more sought-after assets came after founder Rupert Murdoch announced late last year he would step away from the day-to-day operations of the business at the age of 93.
