The significant move will see National Geographic's magazines, websites and all other media assets move to a new company owned by Rupert Murdoch.
After 127 years, National Geographic which runs as non-profit will be come under the ownership of 21st Century Fox owned by the media mogul Rupert Murdoch.
The significant move will see National Geographic's magazines, websites and all other media assets move to a new company owned by Rupert Murdoch. The National Graphic Society non-profit will have a 27% stake in the new company.
A sum of $725 million will be paid by 21st Century Fox to the National Geographic Society. This means NGS will have an endowment fund worth almost $1bn when the transaction goes through.
21st Century Fox and the National Geographic Society will jointly govern the National Geographic Partners. Both Fox and NGS will have equal representation on the board. Gary Knell, the National Geographic Society CEO will be the first chairman of the board.
National Geographic was first published in 1888, the year the National Geographic Society was founded.