- Associated Press - Tuesday, November 3, 2015

WASHINGTON (AP) - The National Geographic Society says it will lay off about 9 percent of its staff of 2,000 as a deal to sell the magazine and other media properties to 21st Century Fox nears completion.

Spokeswoman M.J. Jacobsen said in an email late Tuesday that all employees have been told what their employment status will be once the deal closes later this month.

Buyouts have been offered to some employees, Jacobsen said.

In September, the 127-year-old nonprofit struck a $725 million deal that gives 21st Century Fox a majority stake in National Geographic magazine, the National Geographic TV channel, and other media properties.

The agreement will give the company controlled by Rupert Murdoch’s family a 73 percent stake in the new National Geographic Partners venture.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide