The 21st Century Fox and National Geographic Society agreed to create a joint venture called National Geographic Partners with veteran Declan Moore as the CEO.
Declan Moore, a 20-year veteran of the Society currently serving as Chief Media Officer.
The Board Chair will alternate annually, with Gary Knell, National Geographic Society President and CEO, serving as the Board’s first Chairman.
As agreed, 21st Century Fox and The National Geographic Society will own 73% and 27% respectively of the new entity with a shared governance structure and equal representation on the board of directors.
As confirmed by the company, the new expanded joint venture will combine the National Geographic television channels with National Geographic’s other media and consumer-oriented assets, including: National Geographic magazines; National Geographic Studios; related digital and social media platforms; books; maps; children’s media; and ancillary activities, including travel, location-based entertainment, archival sales, catalog, licensing and ecommerce businesses.
James Murdoch, CEO of 21st Century Fox, said: “We are privileged to have the opportunity to expand our partnership to continue to bring to audiences around the world, ‘The world and all that is in it,’ as National Geographic Society’s second president Alexander Graham Bell stated more than a century ago. We believe in the Society’s mission of bringing the world to audiences through science, education and exploration.”
Closing of the transaction is subject to customary conditions. The transaction is expected to close later this year.