Fox, National Geographic expand partnership in $725 mil. deal

Twenty-First Century Fox Inc said it will expand its 18-year partnership of operating National Geographic TV channels to include the latter's magazines and digital platforms, in a deal valued at $725 million.

Fox will own 73 percent of the joint venture and the National Geographic Society the rest.

The deal will increase the non-profit National Geographic Society's endowment to nearly $1 billion, the partners said.