The deal was widely expected after the company moved from Australia to the US in October last year, when it shifted its primary stock listing to the New York Stock Exchange and was added to the Standard & Poor's 500 index.
The deal will go through if more than half the minority investors accept the offer, which will remain open until February 7.
News Corp currently owns 82% of Fox, which houses the studios behind blockbuster films such as 'The Day After Tomorrow' and 'I, Robot'. With no major acquisitions in sight, the media giant is attempting to consolidate shares in companies that it already has a stake in.
This could also include future offers for pay-TV broadcaster BSkyB, in which News Corp has a 35% stake, and US satellite broadcaster DirecTV, in which it holds a 34% stake.
A deal with Liberty Media, which owns 18% of the voting shares in News Corp, could also be on the cards because the absence of minority shareholers could help facilitate such a deal.
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