Some investors questioned whether the deal would equally benefit both companies given News Corp's valuable assets, like its sizable real estate business. Some also questioned whether Rupert Murdoch's interests were more aligned with Fox, in which he owns a larger share than in News Corp, the daily newspaper said. In November, the activist investor Irenic Capital Management sent a letter to News Corp's special committee questioning whether merging with Fox was a better alternative than other deals, like selling News Corp's real estate business, NYT reported on Tuesday night.