National Geographic Magazine bought by 21st Century Fox

National Geographic on Wetpixel

In a deal worth over $725 million, the National Geographic Society has sold a majority shareholding to media mogul, Rupert Murdoch’s 21st Century Fox. This now means that National Geographic magazine will now combine with the Fox-owned National Geographic TV channels. The rationale for doing so is in order to to increase the amount of money available for investment into its science, research and education programs. The magazine has been a non-profit organization for 127 years.

The Washington Post reports that many magazine subscribers have voiced their concern at the deal.