News Corp investors raise concerns about proposed merger with Fox

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An activist investor escalated its pressure on News Corp on Sunday, asking it to reconsider a proposal by Rupert Murdoch to combine the two parts of his media business, News Corp and Fox.

The investor, Irenic Capital Management, said in a letter to News Corp, which was viewed by The New York Times, that it might vote to oppose the merger, arguing that the proposed deal is likely to undervalue News Corp.

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