21st Century Fox, which has had a joint venture with National Geographic’s TV channels for almost two decades, is expanding that partnership to all of National Geographic Society’s media properties, reports Adweek.

Going forward, continued the report, “Fox will also have a stake in National Geographic’s magazines, books, TV production studio, children’s media and maps. The company has been jointly operating the National Geographic U.S. and international channels for 18 years.

“The new joint venture will be called National Geographic Partners. Fox will own 73 percent of it, while National Geographic Society will own 27 percent. (While the partnership will be for-profit, the National Geographic Society will remain nonprofit.)

“This expanded partnership, bringing together all of the media and consumer activities under the National Geographic umbrella, one of the most treasured names in the world, creates vast opportunities and enables this business to be even more successful in a digital environment,” 21st Century Fox CEO James Murdoch said in a statement.

Fox will contribute $725 million in a mix of cash and equity, meaning that “the society’s endowment will significantly increase to nearly $1 billion,” the companies said in the release.

The reason for the move, stated The Washington Post, is that the iconic ­yellow-bordered magazine is”beset by financial issues” and, in an effort “to stave off further decline, the magazine was effectively sold by its nonprofit parent organization to a for-profit venture whose principal shareholder is one of Rupert Murdoch’s global media companies.”

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