Our favorite nonprofit award-winning magazine announced on Wednesday a for-profit joint venture with 21st Century Fox valued at $725 million. The venture would include the National Geographic Channels cable television group along with National Geographic’s magazine and other print publications and digital media.
Fox will own 73% of the venture, while the National Geographic Society will own 27% of the National Geographic Society. They will also continue their nonprofit organization.
Similar to the story of Sesame Street being sold to HBO, there are some critics and supporter of this venture...For similar reasons.
To illustrate. I am relating this all to penguins. Because National Geographic loves it’s Emperor Penguins...
This is good for Penguins
Adding more money to the mix can only be good for the company. National Geographic needs the money especially with their science, education and research efforts. And part of the agreement with Fox was that they would invest in more science programs...hence more penguin saving! Money helps!
This is makes sad Penguins
21st Century Fox is fine and all but the mission of National Geographic will be lost in the commercialism. Because Fox has their own personal advertising and promotion agenda, this will only direct what content is produced. The only way that this will help the penguins is if the penguins were investors...
What do you think? Is NatGeo selling out or are they investing in their penguins?
Let the convo start flying. But let’s not let it get too cold ;)