September 9, 2015 / 1:50 PM / 2 years ago

Fox, National Geographic expand partnership in $725 million deal

The flag of the Twenty-First Century Fox Inc is seen waving at the company headquarters in the Manhattan borough in New York June 11, 2015. REUTERS/Eduardo Munoz

(Reuters) - 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.

Reporting by Sai Sachin R in Bengaluru; Editing by Ted Kerr

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