The National Geographic Society and 21st Century Fox announced today that they have reached an agreement to expand their 18-year partnership through which they have owned and operated the properties in National Geographic Channels, a joint venture of domestic and international cable television channels which together reach more than 500-million households globally.
The new entity will be owned 73 percent by 21st Century Fox and 27 percent by The National Geographic Society with a shared governance structure and equal representation on the board of directors. Consideration for the transaction is valued at $725 million.
The new expanded joint venture will operate as National Geographic Partners and will combine the National Geographic television channels with National Geographic’s other media and consumer-orientated 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, catalogue, licensing and e-commerce businesses. Combining these assets into one organisation will create greater opportunities to pursue National Geographic’s mission of increasing knowledge through science, exploration and research.
Declan Moore, a 20-year veteran of the Society currently serving as Chief Media Officer, has been appointed CEO of National Geographic Partners.